Rs 38,755 crore order book: Multibagger shipbuilding company hits upper circuit and 52-week high on June 02
The stock gave multibagger returns of 250 per cent in just 1 year whereas BSE Sensex Index is up by 12.58 per cent.
On Monday, one of the Top Gainers on BSE, shares of Mazagon Dock Shipbuilders Ltd zoomed 20 per cent upper circuit to Rs 1,004.60 per share from its previous closing of Rs 837.20. At 03:30 pm, shares of the company ended the trading session in the green, up 17.84 per cent to Rs 986.55 per share. The stock also traded at a new 52-week high of Rs 1,004.60 per share.
According to the Quarterly Results, the net sales increased by 48.85 per cent and net profit skyrocketed by 104.80 per cent in Q4FY23 compared to Q4FY22. The EPS for Q4FY23 stood at Rs 15.77.
According to the annual results, the net sales increased by 36.52 per cent and net profit increased by 85.77 per cent in FY23 compared to FY22. The EPS for FY23 stood at Rs 53.19. The company has an order book of Rs 38,755 crore as of March 31, 2023.
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Mazagon Dock Shipbuilders Ltd is primarily engaged in building & repairing ships, submarines and various types of vessels and related engineering products for various domestic and international clients. It was incorporated as a private limited company in 1934 and was taken over by the Government of India in 1960.
The shares of the company saw a spurt in volume by more than 10 times on BSE. The stock gave multibagger returns of 250 per cent in just 1 year whereas BSE Sensex Index is up by 12.58 per cent. Investors must keep an eye on this stock.