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    Mazagon Dock Shipbuilders gains over 40% in month backed by strong deals

    Mazagon Dock Shipbuilders gains over 40% in month backed by strong deals

    Mazagon Dock Shipbuilders gains over 40% in month backed by strong deals
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    By CNBCTV18.com  IST (Published)

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    During the past two trading days, the stock has soared 27 percent. Average trading volumes on the counter nearly doubled, with 7.9 million shares trading on both the NSE and BSE, representing 4 percent of MDL's equity.

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    Buy / Sell Mazagon Dock share

    Shares of Mazagon Dock Shipbuilders Ltd have been skyrocketing backed by strong financial performance and recent positive-looking business deals. In early morning trade on Monday, the stock hit a 52-week-high of Rs 399 on the BSE.
    At 11:23 am, shares of the company were trading at Rs 393, an 11.3 percent up from the previous close on the BSE. In a span of one month stock has gained over 40 percent.
    During the past two trading days, the stock has soared 27 percent. Average trading volumes on the counter nearly doubled, with 7.9 million shares trading on both the NSE and BSE, representing 4 percent of MDL's equity.
    Posting a good business outlook, the company, in May, received two orders from Container Corporation of India Ltd (CONCOR) for 2,500 shipping containers. In a regulatory filing, Mazagon Dock said that each container would cost Rs 3.5 to Rs 4 lakhs, bringing its fee to around Rs 100 crores.
    MDL, which is primarily engaged in building and repairing ships and submarines, also initiated the design and development of an Indigenous Midget Submarine for the Indian Navy.
    The company, in collaboration with Tata Advanced Systems and Vijai Marine Service, has developed a 06 Pax Hydrogen Fuel Cell electric vessel and, as a pilot, is currently developing a 24 Pax HydrogenFuel Cell electric vessel for inland waterways. These vessels are eco-friendly with zero emissions, low acoustic and heat signatures, and longer endurance.
    The finances
    The company reported an 83.68 percent jump in revenue at Rs 2230 for the April-June quarter. The number stood at Rs 1214 in the corresponding period a year ago. The margin went up by 200 basis points and stood at 7.79 percent for the quarter that ended June 30, 2022.
    Profit After Tax came at Rs 217.02 crore showcasing a growth of 133.98 per cent from Rs 92.75 crore in the corresponding period a year ago.
    MDL is one of India's four strategic defence shipyards and the only one that manufactures destroyers and submarines. The Ministry of Defence (MoD) runs it as a Defence Public Sector Undertaking (DPSU).
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