Rs 50,000 crore order book: This multibagger shipbuilding company receives order worth Rs 310 crore from Ministry of Defence!
The stock gave multibagger returns of 200 per cent in just 6 months, 250 per cent in 1 year and over 1,100 per cent in 3 years.
MDL informed that the company has signed a contract with the acquisition wing of the Ministry of Defence for the construction and delivery of one training ship for the Indian Coast Guard (ICG). The order is worth Rs 310 crore and will be completed within September 2026.
Earlier, On the occasion of ongoing celebrations of “Swachhta Hi Seva”, Defence Secretary of India, Shri Giridhar Aramane, IAS visited Mazagon Dock Shipbuilders Limited (MDL). He was taken to Dharohar - MDL’s Heritage Gallery showcasing the rich heritage of the shipyard. He was then shown around the yard facilities including Submarine workshops, a new submarine section assembly workshop and an under-construction warship & submarine.
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 43,189 crore.
Additionally, 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 overall budget for Project 17A is Rs 25,700 crore.
On Thursday, shares of Mazagon Dock Shipbuilders Ltd plunged 0.59 per cent to Rs 2,128.80 per share from its previous closing of Rs 2,141.35. At the closing bell, the shares of the company were trading at Rs 2,141.35 per share, down 0.62 per cent. On BSE, 1,44,098 quantity was traded whereas on NSE 13,97,969 quantity was traded.
The stock gave multibagger returns of 200 per cent in just 6 months, 250 per cent in 1 year and over 1,100 per cent in 3 years. Investors should keep an eye on this shipbuilding stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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