Mazagon Dock Shipbuilders Ltd. saw a decline of over 1% in its share price following a clarification regarding the Rs 70,000-crore deal for six submarines, which is part of ‘Project 75 India’. The company stated that there are currently “no negotiations” with the Defence Ministry, contradicting earlier reports suggesting that discussions had commenced. This project, crucial for enhancing India’s naval capabilities, involves collaboration with Germany’s ThyssenKrupp Marine Systems for submarines equipped with Air Independent Propulsion systems. The clarification aims to manage market expectations while highlighting the ongoing significance of domestic submarine manufacturing in bolstering India’s maritime security.