Mazagon Dock Shipbuilders share price down marginally in the early trade on October 11 despite the company bagging an order from Maharashtra State Power Generation Company.
At 09:26 am, Mazagon Dock Shipbuilders was quoting at Rs 4,378.10, down Rs 53.00, or 1.20 percent, on the BSE.
The Maharashtra State Power Generation Company (MAHAGENCO) has placed a purchase order on Mazagon Dock Shipbuilders for supply installation and commissioning of an AI-based comprehensive insecure project at GTPS-Uran and KGSC-Pophali at a total price of Rs 121,67,60,768 including all taxes and duties.
The said order is to be completed in the next one year.
Recently, the defense stocks were in focus after the Cabinet Committee on Security (CCS) approved defense deals worth Rs 80,000 crore.
In September, the company signed a contract with Navi Merchants, Denmark to design, build, and deliver a total of 6 (4 optional) vessels, each with a capacity of 7500 DWT.
The project is valued at 86.05 million USD (Rs 700 crores approx.) and each vessel will feature a hybrid propulsion drive, built to meet stringent emission standards and shall be classified under DNV (Det Norske Veritas).
Also, the company won a contract from Oil and Natural Gas Corporation Limited (ONGC) for the subsea pipeline replacement project 8 Group A (PRP 8 Group A), awarded on an EPC reimbursable basis at a ceiling price of Rs 1,486.40 crore.
The share touched a 52-week high of Rs 5,859.95 and a 52-week low of Rs 1,742.00 on 05 July 2024 and 26 October 2023, respectively.
Currently, the stock is trading 24.38 percent below its 52-week high and 154.37 percent above its 52-week low.
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