India's Naval Expansion Boosts Small-Cap Stocks

India is planning to have a bigger navy with more ships.

This is good news for companies that make things needed for building and repairing ships.

Three such companies are Ador Welding, which makes welding equipment; Knowledge Marine & Engineering Works (KMEW), which does dredging and builds ships; and Aeroflex Industries, which makes special hoses and connectors.

These companies are expected to grow because of the increased demand for their products and services as India builds more ships.

However, their financial performances have been mixed, with some showing growth and others facing challenges.