Mazagon Dock Shipbuilders’ shares gained 3% in early morning trade after the Ministry of Defence (MoD) approved the start of negotiations with a German defence company for the ₹70,000 crore submarine project under the P-75(I) programme. As of 9:24 AM, the shares were trading 2.05% higher at Rs 2,755.60.
The P-75(I) project is part of India’s defence modernisation drive and is focused on strengthening the Navy’s submarine fleet. It involves the construction of advanced submarines equipped with modern propulsion technology and enhanced stealth capabilities.
As India’s primary shipbuilder for such large-scale projects, Mazagon Dock is expected to play a central role once the deal progresses. Market experts note that the development could provide long-term revenue visibility for the company, given the scale and strategic importance of the order.
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