Mazagon Dock Shipbuilders (NSE: MAZDOCK) share price traded 3.55% higher at ₹2,369 at 11:10 AM on the NSE. The stock opened at ₹2,275.85, higher than ₹2,287.75 at the previous close. The stock rose to a day’s high of ₹2,423 in the early trade before cooling off to a day’s low of ₹2,256.60.
Despite yesterday’s loss the stock price continued to trade close to its 52-week high of ₹2,930 recorded on July 5, 2024.
The company also issued a clarification regarding the recent media reports on a contract with Jawaharlal Nehru Port Authority (JNPA) about an electric water taxi.
The company clarified that while no contract has been finalised, discussions are in the early stages, particularly concerning a solar-powered boat developed by MDL, the company said in a press release on the stock exchanges.
The stock’s positive movement reflects investor sentiment and the potential business prospects tied to the ongoing discussions.
Earlier this month, Mazagon Dock Shipbuilders Ltd. (MDL) successfully marked a significant milestone in its shipbuilding efforts with the keel laying ceremony for a new training ship for the Indian Coast Guard (ICG).
The ceremony, held on January 13, 2025, follows the commencement of production activities on April 26, 2024.
The project, valued at ₹310 crores, involves the design and construction of a vessel equipped with dual-class certifications and capable of speeds exceeding 20 knots.
The training ship will serve as a platform for basic sea training of ICG trainee officers, with a complement of 223, including trainees and training staff. Scheduled for delivery by December 2026, the ship will play a crucial role in enhancing Coast Guard training capabilities.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 23, 2025, 11:20 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
