Mazagon Dock Shipbuilders will be in focus today after Antique maintained a Buy rating on the stock and raised its target price to Rs 3,858 from Rs 3,433, citing strong order visibility and a positive medium-term outlook.
The brokerage noted that the company has secured a follow-on order for three Scorpene-class submarines and six P75-I submarines. Antique expects these new orders to significantly boost the company’s order book and support medium-term revenue growth.
While Q4 margins were impacted by elevated provisions, Antique remains positive on the stock’s outlook. The brokerage believes that Mazagon Dock and the broader shipbuilding sector may continue to trade at a premium, supported by a large order pipeline, government focus on domestic shipbuilding, and potential strategic partnerships.
Antique remains constructive on Mazagon Dock’s execution capabilities and expects the company to benefit from ongoing sector tailwinds.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
