Shares of Mazagon Dock Shipbuilders have delivered multibagger return to its investors as the stock has zoomed over 515% in 1 year and over 740% in the last two years, as per closing data on August 21
Shares of Mazagon Dock Shipbuilders hit a 52-week high of Rs 2,040 on July 25, 2023, and a 52-week low of Rs 300.9 on August 23, 2022
Mazagon Dock Shipbuilders reported a 40% year-on-year (YoY) increase in net profit at Rs 314.3 crore for the first quarter of FY24. The total revenue stood at Rs 2,172.8 crore, down 2.6% against Rs 2,230 crore in the same quarter last year
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Mazagon Dock Shipbuilders is a shipbuilding and offshore fabrication yard. The company's major activities include shipbuilding, ship repairs and fabrication of offshore structures. It provides warships, merchant ships, submarines, support vessels, offshore platforms, passenger cum cargo vessels, trawlers, main and helidecks and barges
Phillip Capital said the defence sector could see $110 billion in deal opportunities over the next 6-8 years. Defence stocks are placed favourably because they offer long-term execution growth visibility, backed by a robust order book and a healthy pipeline, timely execution due to localisation, integrated modular construction, moat of government preference, cash-rich balance sheets and appropriate tech support from DRDO
"While the ordering potential remains significant, ordering/execution timelines remain unclear at this stage," says ICICI Securities
"At the current market price, the stock captures a lot of exuberance that might not fructify as expected. We maintain SELL on the stock with an unchanged target price of Rs 600," said ICICI Securities. "Repeat orders of P-17A stealth frigates or P15B destroyers are a key upside risk to our thesis," it said
Shares of Mazagon Dock Shipbuilders ended 2.1% lower at Rs 1,868.10 on NSE on August 21, 2023. Market cap of the firm fell to Rs 37,792 crore
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