On Monday, the shares of state-owned shipbuilder Mazagon Dock Shipbuilders (MDL) continued to surge up, rising 5% to a new high of Rs819.25 on the BSE. The stock had increased in price for five straight trading days, rising by 29% during that time. According to BSE data, the market price of MDL has increased by approximately 100% during the last six weeks from a low of Rs412.25 on September 27, 2022.
It has increased 196% in the past three months compared to the S&P BSE Sensex’s growth of 4.5%. MDC was up 2.4% at Rs800 at 12:23 p.m., while the benchmark Sensex index was up only 0.2%. Until this point, 7.2 million shares had exchanged hands on the counter between the NSE and BSE.
MDL primarily works with its clients to construct and repair ships, submarines, other vessels, and related engineering goods. The business was one of the first shipyards in India to manufacture corvettes (Veer & Khukri Class) and is the only shipyard in India to have constructed destroyers and conventional submarines for the Indian Navy.
At 12:23 PM, MDC was up 2.4% at Rs 800 compared to a 0.2% increase in the benchmark Sensex index. 7.2 million shares had been traded on the counter between the NSE and BSE up until this point. For its clients, MDL primarily focuses on building and repairing ships, submarines, different types of vessels, and associated engineering products. As the only shipyard in India to have constructed destroyers and conventional submarines for the Indian Navy, the business was also one of the first to produce corvettes (Veer & Khukri Class) in India.
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