This Navratna PSUs market value has surpassed Rs 1 lakh crore for first time
As Mazagon Dock Shipbuilders achieves a historic milestone with its shares soaring to an all-time high of Rs 5,555, the renowned Navratna PSU has also crossed the significant threshold of a market value exceeding Rs 1 lakh crore for the first time.
Share Market News: Mazagon Dock Shipbuilders (MAZDOCK) shares scaled a lifetime high on Thursday, taking its gains so far in 2024 to more than 140 per cent. The multibagger PSU stock jumped as much as 20 per cent to an unprecedented Rs 5,623.5 apiece in intraday trade on BSE.
With that, the Navratna public sector company's market capitalisation (market value) also touched a record high of Rs 1,13,420.4 crore, crossing the psychologically important milestone of Rs 1 lakh crore for the first time ever, according to provisional exchange data.
The MAZDOCK stock held on to much of its intraday gains to finish the day 19.5 per cent stronger at Rs 5,600.8 apiece.
Mazagon Dock Shipbuilders received the 'Navratna' status from the Department of Public Enterprises (DPE) last month.
Meanwhile, analysts await the onset of a new quarterly earnings season on Dalal Street due next week for domestic cues.
Mazagon Dock Shipbuilders (MAZDOCK) share price history
Mazagon Dock Shipbuilders shares have broken a series of records over the past few weeks, having more than doubled in one month alone.
For the year so far, the Mazagon Dock Shipbuilders stock has grown 145.5 per cent.
What does Mazagon Dock Shipbuilders do?
Mazagon Dock Shipbuilders is principally engaged in the building and repairing of ships, submarines, various types of vessels, and related engineering products for its customers.
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