Shares of Mazagon Dock Shipbuilders Ltd are in news today after the defence firm said it has delivered the first stealth frigate of Project 17A class and the fourth stealth destroyer of Project 15B class to the Indian Navy. The multibagger defence stock closed 6.22% lower to Rs 4725.55 on Friday against the previous close of Rs 5039.20. Total 2.39 lakh shares of the firm changed hands amounting to a turnover of Rs 116.49 crore.
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The defence stock has gained 131% in a year and risen 106.91% in 2024. The stock has climbed 1,820% in three years.
In terms of technicals, the relative strength index (RSI) of Mazagon Dock stands at 51, signaling it’s trading neither in the overbought nor in the oversold zone. Mazagon Dock shares are trading lower than the 5 day, 10 day, 20 day but higher than the 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Both warships have been designed by the Indian Navy’s Warship Design Bureau, constructed by MDL, and overseen by the warship overseeing team, Mumbai.
Mazagon Dock Shipbuilders Ltd (MDSL) is a leading defence public sector undertaking shipyard under the Ministry of Defence (MoD). Mazagon Dock is primarily engaged in constructing and repairing warships and submarines for MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients.