New Delhi, June 9 -- PSU defence stock Cochin Shipyard snapped its four-day winning run on Monday, June 9, as it slid 4% amid profit taking by investors following a 23% rally over four sessions.

The multibagger stock has faced significant gains, rising for four months in a row. Between March and June, Cochin Shipyard's share price is up 65%, with the scrip gaining 19% this month alone.

The rally in Cochin Shipyard shares can be attributed to overall positive sentiment for the defence stocks following the rise in India-Pakistan tensions in light of Operation Sindoor. The Nifty India Defence index is trading at all-time high levels as defence stocks witness strong buying momentum.

Analysts believe that the escalated need for defence equi...