Mazagon Dock Shipbuilders share price down marginally in the early trade on October 11 despite the company bagged an order from Maharashtra State Power Generation Company.
At 09:26am, Mazagon Dock Shipbuilders was quoting at Rs 4,378.10, down Rs 53.00, or 1.20 percent, on the BSE.
The Maharashtra State Power Generation Company (MAHAGENCO) has placed a purchase order on Mazagon Dock Shipbuilders for supply installation and commissioning of AI based comprehensive infrasecure project at GTPS-Uran and KGSC-Pophali at a total price of Rs 121,67,60,768 including all taxes and duties.
The said order is to be completed in next one-year.
Recently, the defence stocks were in focus after Cabinet Committee on Security (CCS) approved defence deals worth Rs 80,000 crore.
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In September, company signed a contract with Navi Merchants, Denmark to design, build, and deliver a total of 6 + (4 optional) vessels, each with a capacity of 7500 DWT.
The project is valued at 86.05 million USD (Rs 700 crores approx.) and each vessel will feature a hybrid propulsion drive, built to meet stringent emission standards and shall be classified under DNV (Det Norske Veritas).
Also, company won a contract from Oil and Natural Gas Corporation Limited (ONGC) for the subsea pipeline replacement project 8 group A (PRP 8 Group A), awarded on an EPC reimbursable basis at a ceiling price of Rs 1,486.40 crore.
The share touched a 52-week high of Rs 5,859.95 and a 52-week low of Rs 1,742.00 on 05 July, 2024 and 26 October, 2023, respectively.
Currently, the stock is trading 24.38 percent below its 52-week high and 154.37 percent above its 52-week low.
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