698% Rally In 2-Yrs: Debt-Free Miltibagger PSU Defence Stock Declines 3%

Large cap multibagger PSU Defence stock, Mazagon Dock Shipbuilders Ltd witnessed a decline of 3.19% as its three-year IPO lock-in period came to an end today. As the lock-in period has ended today, 4 crore shares or 20% of Mazagon Dock Shipbuilders's outstanding equity will remain eligible for trading.

Mazagon Dock Shipbuilders's shares witnessed strong rally from its IPO in 2020, soaring approximately 14 times from its IPO price. It is worth noting that government hold more than 84% stake in the PSU company as of June quarter.

Brokerage firm Antique Stock Broking remains bullish on Mazagon Dock Shipbuilders and assigned buy call. According to the analyst, "For the current order backlog, it estimates 27% capacity utilization in submarine till FY25E as against the optionality of winning new orders (like P75I) and ramping up utilization to 81%." It retained buy call with a target price of Rs 2,774 per share.

Current market price of Mazagon Dock Shipbuilders share is Rs 2073.70 per share. If you buy Mazagon Dock Shipbuilders shares now, you can get potential rally of 34%.

The stock's 52-week high price is Rs 2483.00 per share and 52-week low price is Rs 569.30 per share, respectively. Its market capitalisation is Rs 41,824.46 crore.

Mazagon Dock Shipbuilders shares gained 57% in last 3-months, soared 202% in last 6-months, rose 164% YTD and offered a rally of 698% in last 2-years.

Earlier, this year on September 20, 2023 Mazagon Dock Shipbuilders share traded ex-dividend for 6.86 per share.
Mazagon Dock Shipbuilders Ltd is a shipbuilding and offshore fabrication yard. It has built a total of 801 vessels since 1960, including 27 warships, ranging from advanced destroyers to missile boats as well as 7 submarines.

For both national and global clientele, it has also provided cargo ships, passenger ships, supply vessels, multipurpose support vessels, water tankers, tugs, dredgers, fishing trawlers, barges, and border outposts. Jackets, wellhead platform main decks, process platforms, jack up rigs, and other products have also been manufactured and delivered by the company.