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Mazagon Dock Shipbuilders: A defensive play at attractive valuation

Recent correction in share prices makes this stock an attractive buy

June 21, 2022 / 12:21 PM IST
Mazagon Dock Shipbuilders: A defensive play at attractive valuation

The correction in stock markets is making many high-quality stocks look attractive. In this respect, Mazagon Dock Shipbuilders — the defence PSU — deserves attention. Despite its strong fundamentals, earnings growth, and robust order book, the stock has fallen from a high of Rs 340 apiece in April this year to Rs 235 now. It is trading at 6 times its fiscal 2024 estimated earnings, and is now offering a dividend yield of close to 3 percent. (image) Strong financial performance...

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