04-06-2025
Mazagon Dock shares become more valuable than these 8 Nifty 50 stocks after sharp rally
Mazagon Dock shares rallied up to 3.2%, reaching a market cap of Rs 1.43 lakh crore and surpassing several Nifty 50 stocks. Despite recent profit-booking, bullish technical indicators persist. The company expects 8–10% revenue growth and aims for major submarine contracts that could triple its current order book.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Technicals and stock performance
Shares of Mazagon Dock Shipbuilders extended their recent rally on Wednesday, briefly rising as much as 3.2% to Rs 3,548 on the BSE before paring gains, with the stock now more valuable than eight constituents of the benchmark Nifty 50 index. The defence PSU , which has climbed in nine of the last 11 sessions, touched a market capitalisation of Rs 1.43 lakh crore at its intraday that valuation, Mazagon Dock eclipsed blue-chip companies such as IndusInd Bank Tata Consumer Products , Dr. Reddy's Laboratories, and Apollo Hospitals in terms of market capitalization Shares of the shipbuilder had touched a record high of Rs 3,775 on May 29, the day it announced its March quarter earnings. However, the stock fell 10% over the next two sessions after the results came in below its post-earnings call, the management explained that margins during the quarter were affected due to provisioning for two ongoing projects worth a combined Rs 3,500 ahead, the company guided for revenue growth of 8–10% and a Profit Before Tax margin of 15% for FY26. The management also projected that its order book could grow to Rs 1.25 lakh crore from the current Rs 32,260 crore, contingent on the finalisation of two major submarine contracts , the P75 and P75I.'The P75 submarines order, valued at Rs 30,000 crore to Rs 40,000 crore, is likely to be signed as early as next month,' the company had Dock shares have soared 111% in the past year, 46% over six months, 60% in three months, and 14.7% in the last the stock is trading above six of its eight key simple moving averages, including the 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, indicating bullish momentum across Relative Strength Index stands at 57.8, suggesting the stock is neither overbought nor oversold. The MACD is at 187.4 and remains near the center line but below the signal line.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
