Mazagon Dock Shipbuilders Stock Split: Shares of Mazagon Dock Shipbuilders Ltd. experienced a decline of 8.43% on October 22, ahead of the company’s board meeting to discuss a potential stock split. This marks the first time the company has considered such an action in its trading history, despite having issued dividends previously. The current face value of its shares is ₹10.
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In addition to the stock split, the board will also review a proposal for a dividend distribution. Earlier this year, the company declared a final dividend of ₹12.11 per share for the fiscal year 2024.
Mazagon Dock has seen a significant increase in its retail shareholder base, rising from 4.64 lakh at the end of June to 6.56 lakh by September’s end. The proportion of retail shareholders, holding authorized capital under ₹2 lakh, increased from 9% to 10.6% during this period. Year-on-year, the number of retail shareholders has doubled from 3 lakh last September.
Conversely, Foreign Portfolio Investors reduced their stake in Mazagon Dock from 2.44% in June to 1.45% by September. Meanwhile, mutual funds slightly increased their stake to 0.76% from 0.68%.
Despite the recent drop, shares of Mazagon Dock are currently trading at ₹4,336.95, reflecting a 125% increase over the past year, although they remain down 26% from a record high of ₹5,860 reached in July. The government’s stake in the company stands at 84.83%, well above the 75% minimum public shareholding requirement.
