Multibagger Shipbuilders company sign MoU for Rs 500 crore submarine project; hits fresh 52-week high!
company has given multibagger returns of more than 270 per cent in just one year Â
On Thursday, the shares of Mazagon Dock Shipbuilders Limited traded at Rs 1006.60 per share on BSE, to trade at an new 52-week high of Rs 1080 per share on BSE. The scrip witnessed massive spurt in volume by more than 1.14 times.
Thyssenkrupp of Germany and Mazagon Dock Shipbuilders of India have signed a memorandum of understanding (MoU) to build six submarines for the Indian Navy valued at around Rs 500 crore.
According to a Thyssenkrupp release, Thyssenkrupp will be responsible for the engineering and design requirements, while Mazagon Dock will oversee the construction and delivery of the six submarines that the Indian Navy has tendered.
The agreement was inked in Mumbai in the presence of German Defence Minister Boris Pistorius.
Financial Highlights for FY23 (consolidated):
- Total revenue stood at Rs 2,079 crore, up 48.92 per cent over FY22 on YoY basis.
- EBITDA stood at Rs 798 crore, up 80.54 per cent over FY22.
- Profit After Tax stood at Rs 1,073 crore, up 83.10 per cent over FY22.
Mazagon Dock Shipbuilders Ltd is principally engaged in the construction and repair of ships, submarines and various types of vessels, as well as related engineering goods for a variety of domestic and foreign clients.
It was formed as a private limited company in 1934 and was taken over by the Government of India in 1960.
On Thursday, the shares of Mazagon Dock Shipbuilders Ltd plunged by 4.89 per cent, traded at Rs 1006.60 per share on BSE, to trade at a new 52-week high of Rs 1080 per share on BSE. The scrip witnessed massive spurt in volume by more than 1.14 times.
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The stock has witnessed significant buying activity as it has given multibagger returns of more than 270 per cent in just one year. Investors should keep a close eye on this multibagger Industrial Manufacturing company.