1125% return in 3 years: This defence PSU stock can still give you up to 23% return - Check target price

Mazagaon Dockyard Share Price Target: Shares of Mazagon Dock Shipbuilders Ltd, a defence public sector undertaking (PUS), surged over five per cent in the early trade even as benchmark indices opened lower on Friday i.e. July 17, 2024. The Sensex was down by 85 points or 0.12 per cent and the Nifty was lower by 27 points. The counter opened at Rs 2454.85, higher by Rs 15.85 from the previous close of Rs 2439 on the BSE. It went on to surge around 5.6 per cent to hit a 52-week high of Rs 2576.75.

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The shares of the defence PSU stock, which has a market cap of Rs 51,027 crore, have a 52-week low of Rs 737.65. Last seen the counter held firmly in green at Rs 2538.10. 

Mazagaon Dockyard Share Price Target

According to Ashish Chaturmohta of brokerage firm JM Financial, the shares of Mazagaon Dockyard can touch the level of Rs 2,800-3,000 in the long term. From the previous close of Rs 2,439, the stock can still have an upside potential of up to 23 per cent.

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The defence sector company has quite a good order book of close to Rs 37,500 crore.

Mazagaon Dockyard Share Price History

The share of Mazagaon Dockyard has given a bumper return of 1125 per cent in three years and 771 per cent in two years. The counter has given a positive return of 218 per cent in one year.

Mazagaon Dockyard Completes 250 Years

Mazagon Dock Shipbuilders Ltd (MDL) recently celebrated the completion of 250 years. On the occasion, Defence Secretary Giridhar Aramane released a commemorative coin.

MDL has been building submarines since 1984. The midget submarine is being developed as a proof of concept.