Mazagon Dock shares drew strong attention in the market today after a Bloomberg report indicated that India has clinched a $2-billion submarine deal with Russia, a development that naturally puts the spotlight on the state-owned defence shipbuilder.
The timing of the deal aligns with Russian President Vladimir Putin’s visit to New Delhi this week, adding diplomatic significance to the development. For India, securing a nuclear-powered submarine represents a major boost to the Navy’s underwater capabilities and strengthens the nation’s long-term strategic posture in the Indo-Pacific region.
The update has stirred fresh interest around the company, given its pivotal role in India’s naval manufacturing capabilities and its established track record in building complex warships and submarines.
The stock traded within a steady band through the session, moving between ₹2,580 at the day’s low and ₹2,629 at the high, compared with an opening price of ₹2,618 and a previous close of ₹2,617.20. By 1:48 PM, trading volume had reached 4,44,283 shares, reflecting the heightened market interest triggered by the report.
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.
