Post Thursday’s move, the stock has now crossed ₹1 lakh crore in market capitalisation.
Shares of Mazagon Dock Shipbuilders have more than doubled already in 2024, with gains of 115%. In the last 12 months, the stock has gained over 280%.
The stock has doubled every single year in the last three years. It gained 185% in 2022, 187% in 2023 and is now up the way it is in 2024.
On the charts, Mazagon Dock shares are trading in “overbought” territory with its Relative Strength Index (RSI) at 77. An RSI reading above 70 means that the stock is in “overbought” zone.
Mazagon Dock had debuted on the bourses in October 2020 at an IPO price of ₹145 per share. From its IPO price, the stock has gained over 3,300% in less than four years of listing.
Mazagon dock is a state-run shipbuilder with the government of India holding majority stake. As of the March quarter, the government held a 84.8% stake in Mazagon Dock. The entire government stake is valued at over ₹85,000 crore.
While domestic Mutual Funds do not have a significant stake in the company, it has a total of 3.75 lakh small or retail shareholders as of the March quarter.
Shares of Mazagon Dock Shipbuilders are trading 5.3% higher at ₹4,935.
First Published: Jul 4, 2024 10:04 AM IST
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
