Mazagon Dock Shipbuilders Touches a 52-week high

The Indian benchmark indices ended the session sharply higher, boosted by significant gains in HDFC and the Bajaj twins. The BSE Sensex soared 0.74% to 63,384 level at the close. The Nifty 50 index gained 0.74% to a level of 18,826. 

Broader indices gained in line with the main indices. Mazagon Dock Shipbuilders Ltd, one of the top gainers from the BSE Smallcap pack today, impressed investors with its strong upswing. On an intraday basis on Friday, shares of Mazagon Dock Shipbuilders surged more than 15% to a 52-week high of Rs 1,216.15 per share on the BSE. 

Shares have recently experienced a robust rally, climbing nearly 50% in only one month. Over the last year, investors have been stunned by exceptional returns of more than 380%, growing their wealth by leaps and bounds! 

In the presence of German Minister of Defense Boris Pistorius, thyssenkrupp Marine Systems and Mazagon Dock Shipbuilders Ltd recently signed a memorandum of understanding (MoU). The MoU states that thyssenkrupp Marine Systems will contribute to the engineering and design of the submarines, as well as provide consultancy support to this joint project, while Mazagon Dock Shipbuilders Ltd will be responsible for constructing and delivering the submarines. 

Considering the company’s financial performance, on a consolidated basis, it reported a healthy growth of 48.85% from Rs 1,396.43 crore registered in Q4FY22, recording total revenue of Rs 2,078.59 crore in Q4FY23. When comparing the net profit for the fourth quarter of FY23 to the same quarter last year, it skyrocketed 105.14% from Rs 159.01 crore to Rs 326.19 crore. 

Mazagon Dock Shipbuilders Ltd is one of India’s leading shipbuilding yards, constructing cargo ships, passenger ships, supply vessels, water tankers, and tugs for customers both in India and abroad. 

Also Read: Mazagon dock shipyard Crossed Rs 1000 Mark

Keep a close eye on this stock for the upcoming sessions!