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Defence stocks witnessed a rally despite a dim market sentiment, adding over 1% in Nifty India Defence index. This marks a third straight session of gains.
The above dividend, if declared at the AGM, will be paid within 30 days from the date of declaration for FY ended March 31, 2025.
His vast expertise includes ship design, naval construction, project management, and business development in the defence sector.
Mazagon Dock’s board has also declared a second interim dividend of ₹3 per share for FY25
The partnership was formalized via a Memorandum of Understanding (MoU) inked on March 20, 2025.
The company is involved in the building of warships and submarines among other such products.
One existing share with a face value of Rs 10 will be divided into two new shares with a face value of Rs 5 in a 1:2 stock split.
Bharat Electronics Limited (BEL) will play a big role in Scorpene submarine project. Building of submarines will take place jointly between French Naval Group and Mazagon Dock.
Currently, Mazagon Dock shares have a face value of ₹10 each. The board also reviewed a new dividend proposal.
In addition to the project execution, Mazagon Dock will provide annual maintenance contracts (AMC) after the first year.
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