Miniratna Stock Hit 52 Week High After Company Signs MSRA With US Government

Mazagon Dock Shipbuilders Ltd. shares on Friday jumped 18.93% to Rs 2483, hits new 52 week high, after the company announced that it has signed a master ship repair agreement (MSRA) with the US Government represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka.

"MDL has signed Master Ship Repair Agreement (MSRA) with the US Government represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka. This is a Non-Financial Agreement. There are only two shipyards in the country including MDL who have signed MSRA. The agreement is expected to open-up voyage repairs of US Navy Ships at MDL," the company said in an exchange filing.

The shares of MDL currently trading at Rs 2,341.45 apiece, higher at Rs 12.15% from the previous close. Today it opened at Rs 2,343.10 per share. The stock gained 24.03% in 1 week, and 28.80% in 1 month. It gained 132.66% multibagger return in 3 months and 215.27% multibagger return in 6 months. In 1 year, it gave 441.38% multibagger return in 1 year, and 863.79% multibagger return in 2 years.

Mazagon Dock Shipbuilders Ltd. is a shipbuilding and offshore fabrication yard. The company's major activities include shipbuilding, ship repairs, and fabrication of offshore structures. MDS is also engaged in the construction of destroyers, corvettes, missile boats, frigates, submarines, and patrol vessels for the defense sector. The company offers its products and services to a wide customer base, including the Indian Navy, the Indian Coast Guard, and ONGC.