Shares of Mazagon Dock Shipbuilders rallied over 7 per cent on Tuesday to touch a new 52-week high of Rs 1,062. The stocks of the public sector undertaking jumped over 20 per cent on the previous trading day to breach the Rs 1000 mark while also hitting the upper price band. The share prices saw some correction, setting at Rs 986.55 on Monday before making a strong gain today.

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The recent spike in Mazagon Dock's shares is backed by a positive quarterly report for the period ending on March 31, 2023. The company posted a consolidated total income of Rs 2289.83 core, a 14.97 per cent growth from the numbers in the corresponding period of the previous financial year.  Mazagon Dock, a Mini Ratna company, has recorded Rs 296.79 in net profit after tax in the latest quarter.

Initially incorporated as a private limited company in 1934, Mazagon Dock Shipbuilders operates in the defence sector.  It is the only shipyard involved in the manufacturing and development of stealth destroyers, submarines and anti-submarine warfare for the Indian Navy. The company has manufactured over 800 ships since 1960. It was given Mini Ratna-I status in 2006. Mazagon Dock Shipbuilders has a total market cap of Rs 17562.16 crore.  

At the end of FY 2023, Mazagon Dock had an order book of Rs 38,755 crore for various projects including Rs 15,814 crore in P15B Destroyers and Rs 18501 crore in P17A stealth frigates.

Mazagon Dock Shipbuilders went public in October 2020, with its initial public offering making a debut with a 19 per cent premium at Rs 173 against the issue price of Rs 145 on BSE. The company raised Rs 443 crore through its public issue Mazagon Dock Shipbuilders shares have jumped over 500 per cent in less than 3 years of its listing. The company is listed on both BSE and NSE.

On a year-to-date (YTD) basis, the company’s shares have surged 25.18 per cent, outperforming the benchmark BSE Sensex's 2.65 per cent rise.

Mazagon Dock Shipbuilders’ top leadership includes Sanjeev Singhal, Jasbir Singhm Sanjay Jajum, Biju George, Mallikarjunarao Bhyrisetty, Shambhuprasand Tundiya, Neeru Singh, Jagjeet Kaur, Vasudev Puranik