Rs 37,500 crore order book and DIIs increase stake: This multibagger defence & shipbuilding stock bags new order worth Rs 1,070 crore; stock gains over 1,000 per cent!

Shares of the company have gained more than 20 per cent in the last six months.

Mazagon Dock Shipbuilders Limited (MDL) has signed a contract with the acquisition wing of the Ministry of Defence (MoD) for the construction and delivery of 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard (ICG). The contract is valued at approximately Rs 1070 crore.

The FPVs will be designed, built, and delivered by MDL over a period of 63 months. The first vessel is scheduled for delivery within 24 months of the contract signing, with subsequent vessels delivered at three-month intervals. This contract is a significant boost for MDL, a leading Indian shipbuilding company.

Recently, Mazagon Dock Shipbuilders Limited (MDL) also signed a contract with India's Ministry of Defence to build 6 next-gen offshore patrol vessels for the Coast Guard. The total value is around Rs 1600 crore and the first vessel will be delivered within 41 months, followed by others in 5-month intervals.

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. DIIs have also increased their stake in the company to 0.43 per cent in December 2023 respectively. The company has an order book of Rs 37,500 crore. The stock has also delivered multibagger returns of over 1,000 per cent in the last three years.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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