Stock Market Today: Mazagon Dock Shipbuilders Ltd share price gained ahead of Donald Trump's oath ceremony. Mazagon Dock Shipbuilders share price is on the cusp of giving a technical breakout
Mazagon Dock Shipbuilders share price opened at ₹2324.10 on the BSE on Monday slightly higher than the previous close ₹2315.60. The Mazagon Dock Shipbuilders share price thereafter gained further to intraday highs of ₹2334.25.
Mazagon Dock Shipbuilders share price that had corrected significantly in the ongoing market correcton compared to highs seen in July however has been seeing smart gains offlate. Mazagon Dock Shipbuilders share price is up almost 17% since 13 January 2025 lows.
Asia's economies may face volatility due to Trump's trade wars and tariffs, but some sectors — like tech and defence — could thrive. So, Trump 2.0 is expected to fuel buying in defence and tech-enabled defence stocks in the near term. The current rise in Mazagon Dock Shipbuilders' share price should be seen from this perspective, said Ross Maxwell, Global Strategy Operations Lead at VT Markets
Mazagon Dock Shipbuilders share price is on the cusp of giving fresh technical breakout at ₹2500 apiece levels, said Sumeet Bagadia, Executive Director at Choice Broking. On breaking above this mark on a closing basis, the defence stock is expected to touch 2700 mark in the near term. So, Mazagon Dock Shipbuilders shareholders are advised to hold the stock with strict stop loss at ₹2225 and wait for the breakout. Fresh investors can also buy Mazagon Dock Shipbuilders shares at current market price for the short term target of ₹2500 and ₹2700 maintaining strict stop loss at ₹2225, said Bagadia.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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