With a strong pipeline of projects, the company is investing in a new shipyard to expand capacities
MoS for Ports and Shipping, Shantanu Thakur said India has plans to add 10 world-class shipyards in the next five years, supported by public-private partnerships and international collaborations. The Shipping Ministry has plans to develop new shipbuilding clusters of 1-1.2 million Gross Tonnage (GT) each.
At close, the Sensex was up 329.06 points or 0.40 percent at 81,635.91, and the Nifty was up 97.65 points or 0.39 percent at 24,967.75. About 1830 shares advanced, 2169 shares declined, and 178 shares unchanged.
Mazagon Dock share price: The approval marks a key step forward in the P-75(I) deal. The two companies had already signed a Memorandum of Understanding (MoU) in June 2023.
At close, the Sensex was down 693.86 points or 0.85 percent at 81,306.85, and the Nifty was down 213.65 points or 0.85 percent at 24,870.10. About 1695 shares advanced, 2205 shares declined, and 144 shares unchanged.
On August 4, Nifty India Defence index was trading 1.56% higher after falling nearly 8% in the last eight sessions
The defence index had surged over 40% since the beginning of April on expectations of higher order inflows amid conflict between India and Pakistan, raging tensions between Russia and Ukraine
The company’s focus remains on executing its existing orders and maintaining margins
Mazagon Dock Shipbuilders reported a 51 percent fall in net profit for the March quarter of FY25, with earnings falling to Rs 325.3 crore.
The MCMVs will bridge the gap in India's maritime defense to detect, track and destroy underwater mines
On May 8, shares of defence companies tumbled in the second half amidst profit booking with most defence players losing early gains.
Last week, the defence PSU firm had announced April 16 as the record date for payment of second interim dividend of FY25 of Rs 3 per share of face value of Rs 5
Mazagon Dock share price: The OFS will open for institutional investors on Friday. Retail buyers can put in bids on April 7
Mazagon Dock share price: The EBITDA grew 51.4 percent to Rs 817 crore against Rs 539 crore last year, while the margin was up 26 percent against 23 percent on-year.
The project involves construction of AIP-Plug and its integration, and will enhance the endurance of conventional submarines, contributing towards 'Aatmanirbhar Bharat'.
With today's fall, the Nifty 50 re-entered the correction territory as it has now fallen over 10 percent from its record high.
There seems to be a sustained buying interest in defence and shipbuilding stocks as investors find valuations more palatable after the pullback from recent highs prompted JPMorgan to initiate coverage this week.