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Shares of Mazagon Dock Shipbuilders hit 52-week high of Rs 1341, rising 7.55% in early trade today. It opened higher at Rs 1280 against the previous close of Rs 1246.85 on BSE.
Under this agreement, INS Shankush, a submarine belonging to the SSK Class, will undergo comprehensive refurbishment and life certification at MDL's facility in Mumbai, , Ministry of Defence (MoD), Mazagon Dock Shipbuilders Ltd (MDL), INS Shankush
The Contract was signed in presence of Dinesh Kumar, JS & AM(MS) and other MoD reps.
Mazagon Dock shares surged over 7% to a new 52-week high, as analysts note increased activity in India's defense sector, particularly in shipbuilding, following a meeting between the US and India defense ministers.
These warships are Surat, the fourth P15B Visakhapatnam Class destroyer and Udaygiri, the second P17A Nilgiri Class Advanced Stealth Frigate