Mazagon Dock Shipbuilders saw its shares rise on Monday morning following the announcement of a significant contract win. Here’s a breakdown of the key details:

Key Highlights

  • Share Price Movement: Shares of Mazagon Dock Shipbuilders climbed nearly 3%, reaching an intraday high of ₹5,060.
  • Major Contract Secured: The company announced on Friday evening that it had secured a contract worth ₹4,676 crore from the Oil and Natural Gas Corporation (ONGC). The contract involves the construction and installation of wellhead platforms and a related pipeline project (DSF-II) on an engineering, procurement, and construction reimbursable basis. The project is expected to be completed by May 31, 2026.

Upcoming Financial Results

  • June Quarter Expectations: Mazagon Dock Shipbuilders is scheduled to release its June quarter results on August 14. Analysts at Antique Broking are forecasting a significant 56% year-on-year revenue increase to ₹3,407 crore. Net profit is expected to more than double to ₹579 crore for the quarter.

Future Prospects

  • Potential Defence Contract: Last month, media reports indicated that the Defence Ministry is close to approving a major ₹70,000 crore order for warships for the Indian Navy. Mazagon Dock Shipbuilders and Garden Reach Shipbuilders are the leading contenders for this contract.

Stock Performance

  • As of Monday morning, Mazagon Dock Shipbuilders’ shares were trading up by 2.50% at ₹5,040.

Mazagon Dock Shipbuilders is experiencing strong market momentum following the announcement of a significant contract from ONGC.

TOPICS: Mazagon Dock