Mazagon Dock share price: The stock jumped 11.54 per cent to hit a day high of Rs 2,225. Analysts at brokerage Prabhudas Lilladher (PL) have given a 'Buy' on the counter with a near-term target price of Rs 2,500.
PSU stocks IRFC, RVNL and Mazagon Dock surged up to 13 percent in intra-day deals on Tuesday to hit their respective new highs ahead of the 2024 Interim Union Budget.
Mazagon Dock share price: The counter was trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 67.36. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As per Trendlyne data, the average target price for Mazagon Dock stock is Rs 1,771, which shows a downside of 13% from the current market prices. The consensus recommendation from three analysts for the stock is a Hold .