Mazagon Dock Shipbuilders Limited has clarified recent media reports regarding a massive ₹99,000 crore defence contract, confirming that negotiations with the Government of India have been completed and the proposal is currently awaiting approval from the competent authority.
The clarification comes after reports suggested that the defence shipbuilder was close to securing a large naval order, which triggered heightened investor interest and unusual movement in the company’s stock.
In a regulatory filing, Mazagon Dock Shipbuilders stated that the Contract Negotiation Committee (CNC) discussions between the government and the company have concluded. The proposal has now been submitted for approval from the relevant authority, marking the next stage in the procurement process.
The company also referred to its earlier disclosures dated August 25, 2025, September 10, 2025, and January 9, 2026, where it had already informed exchanges about developments related to the negotiations. The latest update serves as a continuation of those communications.