Up 1331% in last 3 yeas: This Navratna defence PSU stock gains up to 5%

Shares of the defence Navratna PSU company Mazagon Dock gained up to 5 per cent in early trade after sources reveal that the company has led the race for Submarine project P75. This Project-75 (India), also known as P-75(I), is a military project involving purchase of diesel-electric submarines for the Indian Navy. The project is part of the Indian Navy's 30-year plan for indigenous submarine construction. 

At the last count, the shares were up 3.77 per cent at Rs 4,129.4, while at the day's high the stock scaled to Rs 4,168 per share.

As per sources, the company may crack a big deal from the Indian Navy for as much as Rs 40,000- Rs 43,000 crore. And furthermore as per inputs, the deal may be signed in the next 6 months.

Mazagon Dock Shipbuilders Q2 results

For the September quarter, the company's net profit zoomed 75.76 per cent to Rs 585.08 crore 4 as against Rs 332.88 crore during the previous quarter ended September 2023. Sales rose 50.84 per cent to Rs 2756.83 crore in the quarter ended September 2024 as against Rs 1827.70 crore during the previous quarter ended September 2023.

Mazagon Dock dividend 

The company announced an interim dividend of 23.19 per equity share or 231.9 per cent. The stock's dividend yield considering the dividend pay-out and the last traded price is 0.66 per cent.

Mazagon Dock Shipbuilders share price performance

In the last one year, the stock has zoomed 110 per cent, while in the last 3 years it is up 1,331 per cent.