406% Return In 1-Yr: PSU Stock Inks Contract Worth Rs 2724.63 Cr With Indian Navy

Mazagon Dock Shipbuilders Limited has informed BSE on June 30 that it has signed a contract worth Rs 2724.63 crore with Indian Navy for medium refit cum life certification (MRLC) of second Shishumar class submarine INS Shankush. Mazagon Dock Shipbuilders shares gained 0.48% on BSE after making the announcement. Mazagon Dock Shipbuilders stock offered massive 406% return in just last 1-year when Sensex gained 22%. Check details below:

Mazagon Dock Shipbuilders Signs Contract With Indian Navy, Shares Jump: According to the BSE filing of the company, "In terms of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform that:

1. Mazagon Dock Shipbuilders Limited (MDL) signed a Contract with Indian Navy for Medium Refit cum Life Certification (MRLC) of second Shishumar class submarine INS SHANKUSH on 30 June 2023.

2. The Contract was signed in presence of Shri Dinesh Kumar, JS & AM(MS) and other MoD reps.

3. The value of the Contract is Rs 2724.63 Crore.

Mazagon Dock Shipbuilders Stock Outlook & Return: Last trading price of Mazagon Dock Shipbuilders share is Rs 1246.85 per share on BSE. Its 52-week high price is Rs 1337.70 per share and 52-week low price is Rs 241.60 per share, respectively. The company has a market capitalisation of Rs 25,147.72 crore. In last 1-month, Mazagon Dock Shipbuilders share offered return of 56%, 90% return in last 3-months, 58% return YTD, 406% return in last 1-year, and again 412% return in last
2-years.

About: Mazagon Dock Shipbuilders Limited is one of the leading Defence Public Sector Undertaking shipyard under the Ministry of Defence. The History of Mazagon Dock dates back to 1774, when a small dry dock was constructed in Mazagon. MDL has earned a reputation for quality work and established a tradition of skilled and resourceful service to the shipping world in general and the Indian Navy & Coast Guard, according to its official website.

Disclaimer: The psu company inked contract with Indian Navy. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Goodreturns.in advises users to check with certified experts before taking any investment decision.