Mazagon Dock Shipbuilders Surges to Record High After Attaining Navratna Status

Shares of Mazagon Dock Shipbuilders Ltd soared by 20% to a record high, reaching ₹5,600 on Thursday, following its recent designation as a ‘Navratna’ after approval from the Department of Public Enterprises.

The market capitalisation of Mazagon Dock Shipbuilders crossed the ₹1 lakh crore mark on July 4, showcasing the company’s remarkable growth and investor confidence.

The Navratna status grants Mazagon Dock Shipbuilders the ability to make significant investments in projects and partake in joint ventures and overseas subsidiaries, enhancing its operational capabilities.

The stock price of Mazagon Dock has more than doubled in 2024, exhibiting an impressive 115% surge, reinforcing its position as a key player in the defense sector.

Since its IPO in October 2020 at ₹145 per share, Mazagon Dock’s stock has skyrocketed by over 3,300% in less than four years, attracting significant attention from investors.

With the Government of India holding a majority stake of 84.8% in the company, Mazagon Dock Shipbuilders plays a crucial role in the country’s defense and shipbuilding sector, contributing to its immense market capitalisation.

Analysts from various firms, including Choice Broking, Prabhudas Lilladher, and StoxBox, have provided optimistic price targets for Mazagon Dock, showcasing continued positive sentiment from experts and investors.

Bloomberg data reveals that three out of four analysts covering Mazagon Dock have a ‘buy’ rating on the stock, underlining the strong market sentiment towards the company’s growth prospects.

The recent surge in Mazagon Dock’s stock price comes amidst a broader rally in the market, further solidifying its position as a top performer and a key player in the defense and shipbuilding industry.