Multibagger Mazagon Dock Shipbuilders Climbs 14.5% to Record High!

Mazagon Dock Shipbuilders' shares surged 14.5% to ₹2,794, then closed at ₹2,737, up 12.18%. The stock has climbed 250% annually and 1,529% over five years.
Multibagger Mazagon Dock Shipbuilders Climbs 14.5% to Record High

Mazagon Dock Shipbuilders’ share price soared by 14.5% to an all-time high of ₹2,794 on the NSE, eventually settling at ₹2,737, up 12.18% for the day. This remarkable performance reflects a substantial annual increase of 250% and a five-year gain of 1,529%.

Defence stocks like Mazagon Dock benefit from increased capital expenditures, the Make in India initiative, and a surge in export orders. This positive sentiment is bolstered by the company’s impressive track record of delivering robust returns to investors.

On a single trading day, Mazagon Dock shares reached a peak of ₹2,794.40, climbing 14.57% from the previous close of ₹2,439 on the BSE. The day’s trading involved 3.61 lakh shares, generating a turnover of ₹95.58 crore, and pushing the company’s market cap to ₹55,808 crore.

The stock has seen a 21% increase in 2024 alone, with a 245% rise over the past year and an 844.71% increase over two years. Despite these gains, the stock exhibits low volatility, as indicated by its one-year beta of 0.4.

Mazagon Dock’s robust performance continued in the December 2023 quarter, with a 77% year-on-year rise in net profit to ₹626.8 crore and a 30% increase in revenue to ₹2,362.5 crore. EBITDA surged 82%, enhancing margins to 22.8%.

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