Analyst suggests buying this multi-bagger defence PSU stock before Budget 2024 | Check out target

Multi-bagger defence PSU stock: In Thursday's session, shares of shipbuilding companies surged as the shipping industry is likely to get a big boost in the upcoming Union Budget 2024-25, according to sources. Amid this, brokerage firm Axis Direct has recommended buying a defence PSU stock before budget 2024 on July 23.

Axis Direct Suggest Buying Mazagon Dock Shipbuilders

The analyst has suggested buying shares of Mazagon Dock Shipbuilders for 5-15 days.

Mazagon Dock Shipbuilders Share Price Target

Axis Direct has given a target price of Rs 6,150 with a stop loss of Rs 5,450 for Mazagon Dock Shipbuilders stock. The stock is currently trading at Rs 5744.45.

Mazagon Dock Shipbuilders Stock Performance

Mazagon Dock Shipbuilders made a 7.16 per cent rise or +383.70 points high in intraday trade and settled at Rs 5,739.10. This stock has given returns of around 79 per cent in the last month, 150 per cent in past six months, and 261 per cent in last one year. Mazagon Dock Shipbuilders  five-year return is 3,315 per cent.

Disclaimer: The views/suggestions/advice expressed here in this article are solely by the brokerage firm. Zee Business suggests its readers consult their investment advisers before making any financial decision.