Mazagon Dock Shipbuilders share price skyrockets 11% : Do you own it?
- Stock Market Today : Mazagon Dock Shipbuilders share price gains up to 11% during intraday trades on Wednesday as relief rally in the markets also helped. The stock had corrected more than 20% in February prior to today's rally . Do You own it?
Stock Market Today : Mazagon Dock Shipbuilders share price gains up to 11% during intraday trades on Wednesday as relief rally in the markets also helped . The stock had corrected more than 20% in February 2025 prior to today's rally
Mazagon Dock Shipbuilders share price movement
The Mazagon Dock Shipbuilders share price opened at ₹1948.55 on the BSE on Wednesday , slightly lower than the previous close of ₹1961.30. The Mazagon Dock Shipbuilders share price thereafter gained and touched intraday highs of ₹2177.5. which meant intraday gains of more than 11%
The Mazagon Dock Shipbuilders share price had been seeing sharp correction prior to today. The Mazagon Dock Shipbuilders share price had dipped to closing lows of ₹1961.30 on Tuesday compared to ₹2499 at the end of January and hence has corrected more than 20% in February with shar correction in the markets
The gains now are also being supported by some relief rally seen by the markets
Mazagon Dock Shipbuilders developments
Mazagon Dock Shipbuilders had in February reported good Q3 Results performance. In comparison to the same period last year, Mazagon Dock Shipbuilders' consolidated net profit for the quarter ending December 2024 jumped by 29.33% to ₹807.04 crore from ₹623.87 crore.
Operating revenues for Mazagon Dock Shipbuilders reached ₹3,143.62 crore in the October–December 2024 quarter, a 30% YoY increase over ₹2,362.47 crore in the same period the previous year.
During the December 2024 quarter, Mazagon Dock Shipbuilders' operating performance significantly improved. At ₹1,062.57 crore, the profit before tax and exceptional items increased 35.14% year over year (YoY) from ₹786.23 crore in the previous quarter. In the meantime, the number showed a significant sequential improvement of 43.5% above ₹740.49 crore in the September 2024 quarter.
The Mazagon Dock Shipbuilders also has continued to be in the headlines due to order flows and anticipations of additional orders from the defense sector.
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