Rs 50,000 crore order book: This multibagger shipbuilding company signs master ship repair agreement with US Government; scrip hit 52-week high!

 The stock gave multibagger returns of 200 per cent in just 6 months, 415 per cent in 1 year and over 800 per cent in 2 years.

Mazagon Dock Shipbuilders Ltd (MDL) announced that the company has signed a 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.

Earlier, the company marked its 250 glorious years of existence with excellence and expertise with the launch of the fourth Stealth Frigate of Project 17A ‘MAHENDRAGIRI’. With the launch of this mighty frigate, MDL continues its triumphant march towards self-reliance turning Aatmanirbhar Bharat into a reality.

The construction of the Mahendragiri stealth frigate began in June 2022 using an integrated construction method. The ship is expected to be completed and delivered by February 2026. It is 149 meters long and 17.8 meters wide and is powered by a CODOG combination of two gas turbines and two main diesel engines. It is equipped with state-of-the-art weapons and sensors, including a supersonic surface-to-surface missile system, a vertical launch and long-range surface-to-air missile system, two 30mm rapid-fire guns, and an SRGM gun. The overall budget for Project 17A is Rs. 25,700 crores.

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Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo/passenger ships, and offshore platforms. The company’s order book stands over Rs 50,000 crore as of August 31, 2023, while its market cap is Rs 44,500 crore.

On Friday, shares of Mazagon Dock Shipbuilders Ltd surged 5.83 per cent to Rs 2,209.4 per share with an intraday high of Rs 2,483 and an intraday low of Rs 2,176. The stock also made a new 52-week high of Rs

 The stock gave multibagger returns of 200 per cent in just 6 months, 415 per cent in 1 year and over 800 per cent in 2 years.

Disclaimer: The article is for informational purposes only and not investment advice.