Defense sector star: shares of this PSU are 1,900 pcs higher than the issue price: Do you have it?

The buzz around the poll results across the country continues till the 5th phase of Lok Sabha elections. Amid unpredictable rises and falls in the stock market, defense stocks in India are hitting record highs. Reasons include large contract wins, increased budget allocations and the government’s desire to reduce defense imports while promoting local procurement.

As a result, investors are showing great interest in this stock and the returns have been decent over the past year.

Which stock is trading 1,900 percent above its IPO price?

One standout contractor is Mazagon Dock Shipbuilders. It is a leading public sector shipyard under the Ministry of National Defense.

How did Mazagon Dock’s inventory perform last year?

The company’s shares have increased by over 277% over the last year.

How has Mazagon’s dock stock performed over the past three years?

Over the last three years, Mazagon Dock’s shares have skyrocketed by 1,282 per cent, trading at a price of 1,900 per cent above its initial issue price of Rs 145 per share in October 2020.

When did the share price of Mazagon Dock exceed 1,000 marks?

The stock took 34 months to cross the Rs 1,000 mark after listing.

How long did it take for Mazagon Dock stock to cross Rs 2,000?

This share took just four months to cross Rs 2,000 in September 2023.

Mazagon Dock share price: highest ever

It recently touched an all-time high of Rs 2,977 per share, just below the Rs 3,000 mark.

Mazagon Dock results for the fourth quarter

The company’s Q4 and FY24 financial results will be released on May 29. For the financial year ended March 31, 2024, Mazagon Dock recorded a provisional and unaudited turnover of approximately Rs 9,400 crore, up from Rs 7,827.18 crore in the previous year.

About Mazagon Dock

Since its establishment in 1934, Mazagon Dock has delivered 802 ships, including 28 warships and 7 submarines.