This shipbuilding stock has surged 7% today!

This shipbuilding stock has surged 7% today!

by 5paisa Research Team Last Updated: Dec 14, 2022 - 02:07 am 11k Views

In the last three months, the stock has jumped from Rs 279 on August 2 2022, to Rs 683.05 on November 2 2022.

On November 2, the market is trading in the red. At 12:30 pm, the S&P BSE Sensex is trading at 60938. About sectoral performance, Metals and Healthcare are the top gainers, while Auto and IT are among the top losers. Regarding stock-specific action, Mazagon Dock Shipbuilders Ltd is among the top gainers.

Shares of Mazagon Dock Shipbuilders Ltd have surged 7% and are trading at Rs 683, as of 12:30 pm. The stock opened at Rs 637.8 and so far, has made an intraday high and low of Rs 688.6 and Rs 636.8, respectively.

The stock is in strong momentum upwards. In the last three months, the stock has jumped from Rs 279 on August 2 2022 to Rs 683.05 on November 2 2022, delivering a return of 144%.

Mazagon Dock Shipbuilders Ltd is a leading player in the shipbuilding Industry of India. It is primarily engaged in building & repairing ships, submarines, and various types of vessels and related engineering products for various domestic and international clients.

It has also delivered cargo ships, passenger ships, supply vessels, water tankers, tugs, dredgers, fishing trawlers, barges & borders for various customers in India and abroad.

Sales and net profit for FY22 on a combined basis were Rs 5,733 crore and Rs 586 crore, respectively. The company's ROE and ROCE as of the end of the FY22 period are 19.1% and 25.5%, respectively.

For the June quarter, on a consolidated basis, the company generated revenue of Rs 2,230 crore and a net profit of Rs 225 crore.

About the shareholding pattern, 84.83% of the company’s stake is owned by the promoters, 3.05% by FIIs, 0.76% by DIIs, and the rest 11.35% by non-institutional investors.

The company has a market capitalisation of Rs 13,810 crore and is currently trading at a PE multiple of 19.4x. The stock has a 52-week high and low of Rs 688 and Rs 224, respectively.

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