Mazagon Dock Shares Rebound After Six-Day Slide

Mazagon Dock Shipbuilders shares climbed nearly 2% on Friday, ending a six-session losing streak. The stock traded at Rs 2,251.90 on the NSE, up about 1.9%, as positive comments from the company’s leadership lifted investor sentiment. Director (Finance) Ruchir Agrawal told CNBC-TV18 that the company is eyeing an investment of up to Rs 15,000 crore in a new shipyard in Maharashtra. He said the firm is targeting 15-17% returns from the project and expects a binding agreement soon. Agrawal also noted that the P75I submarine order is expected in the current fiscal year. Mazagon Dock plans to bid for the Navy’s 75 Bravo RFP as well. A successful outcome on these fronts would keep the company’s order book robust, he added.