26 Jun 2024

Mazagon Dock Shipbuilders rises on the BSE

Mazagon Dock Shipbuilders is currently trading at Rs. 4139.55, up by 163.00 points or 4.10% from its previous closing of Rs. 3976.55 on the BSE.

The scrip opened at Rs. 4125.00 and has touched a high and low of Rs. 4269.75 and Rs. 4125.00 respectively. So far 256251 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4,269.75 on 26-Jun-2024 and a 52 week low of Rs. 1,223.05 on 27-Jun-2023.

Last one week high and low of the scrip stood at Rs. 4269.75 and Rs. 3850.00 respectively. The current market cap of the company is Rs. 84101.70 crore.

The promoters holding in the company stood at 84.83%, while Institutions and Non-Institutions held 3.05% and 12.12% respectively.

Mazagon Dock Shipbuilders has been granted ‘Navratna status’ by Department of Public Enterprises (DPE). Navratna PSUs have a comparative advantage over other companies as they have been granted financial independence to invest up to Rs 1,000 crore without seeking approval from the Union government.

The board of the 'Navratna' companies has autonomy to incur capital expenditure on the purchase of new items or for replacement without any monetary ceiling and to enter into technology joint ventures or strategic alliances, among others.

Mazagon Dock Shipbuilders is the India's leading defence public sector undertaking shipyard under the Ministry of Defence.