Mazagon Dock Shipbuilders Ltd traded nearly 1% higher on Thursday, Dec 11, after the state-run defence shipbuilder announced that it has signed a Memorandum of Understanding (MoU) with the Brazilian Navy. The agreement, executed in partnership with the Indian Navy, aims to deepen cooperation on the maintenance of Scorpène-class submarines along with other naval vessels.
According to the company’s regulatory filing, the MoU includes collaboration on procurement opportunities, exchange of technical and manufacturing expertise, and joint work in research, development and defence innovation. The agreement is expected to strengthen India’s naval industry linkages with Latin America.
Mazagon Dock shares were trading at ₹2,457, up about 1% from the previous close of ₹2,439.10 on the NSE.
Earlier in October, Mazagon Dock reported a 28.1% year-on-year increase in consolidated net profit to ₹749 crore for the September quarter of FY26, compared to ₹585 crore in the same period last year. The growth was supported by higher revenue and better operating margins.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
