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Mazagon Dock share price: "Mazagon is India's only shipyard which is engaged in building destroyers and conventional submarines for Indian Navy. The upcoming bids from the defence ministry could improve the order book and revenue visibility," HDFC Securities said.
Mazagon Dock Shipbuilders Limited is one of the leading shipbuilding yards in India. It was incorporated as a Private Limited Company in 1934.
Multibagger stock: The stock which fell to a 52 week low of Rs 241.60 on July 1, 2022 touched a 52-week high of Rs 1341 on July, 2023 this year, translating into returns of 455% in a year.
Stocks to Watch on Monday, July 3: Post the approval of the merger between HDFC Bank and HDFC, the trading window in HDFC Ltd will remain closed till July 13
Shares of Mazagon Dock Shipbuilders surged over 7% and hit a 52-week high after the company won a contract worth Rs 2,724 crore from the Indian Navy. The stock has seen a tremendous rally, delivering returns of 435% in the past year. With a market capitalization of over Rs 25,000 crore, Mazagon Dock has become the first shipbuilding company to achieve this milestone. Despite trading in an overbought zone, the stock has been performing well and is above its 50-day and 200-day moving averages.