Rs 25,700 crore order: This multibagger shipbuilding company launches ship Mahendragiri for Indian Navy!
The stock gave multibagger returns of 155 per cent in just 6 months, 370 per cent in 1 year and over 700 per cent in 2 years.
Mazagon Dock Shipbuilders Ltd (MDL) marks 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 ship was christened by Dr. (Mrs.) Sudesh Dhankhar, the wife of the Vice President of India, Shri Jagdeep Dhankhar. The event was also attended by the Governor of Maharashtra, the Chief Minister of Maharashtra, the Deputy Chief Ministers of Maharashtra, the Chief of Naval Staff, and other dignitaries.
The construction of this vessel used an integrated construction method, which involved building the hull blocks simultaneously and assembling them at different locations before finally integrating and erecting them on the slipway at MDL. The keel-laying ceremony, which marks the start of construction, took place on June 28, 2022. The vessel is expected to be completed and delivered by February 2026., with its launch weight estimated at approximately 3450 tons.
Project-17A is a major shipbuilding project that is helping to boost India's economy and create jobs. The project is supporting a diverse workforce, including entrepreneurs and MSMEs, and has placed more than 75 per cent of its orders with indigenous firms. This is a testament to India's growing self-reliance and is helping to create a thriving local ecosystem.
The design of the ship was done by the Indian Navy's in-house design organization, the Warship Design Bureau. The meticulous design and construction of the ship was undertaken by MDL, which was closely monitored by the Warship Overseeing Team in Mumbai. The first ship of Project 17A, named Nilgiri, was launched in 2019 and is currently preparing for sea trials in 2024. The overall budget for Project 17A is Rs 25,700 crore. The second ship of the P17A class, Udaygiri, was launched in 2022 and is slated to commence sea trials in 2024. The third ship, Taragiri, was launched in 2022, marking another significant milestone in the project.
The Mahendragiri is a 149-meter-long and 17.8-meter-wide stealth frigate. It is powered by a CODOG combination of two gas turbines and two main diesel engines and can achieve a speed of over 28 knots. The ship 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. It also has indigenously developed triple-tube lightweight torpedo launchers and rocket launchers.
On Friday, shares of Mazagon Dock Shipbuilders Ltd surged 2.18 per cent to Rs 1,888.20 per share with an intraday high of Rs 1,933 and an intraday low of Rs 1,874.35. The stock gave multibagger returns of 155 per cent in just 6 months, 370 per cent in 1 year and over 700 per cent in 2 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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