Mazagon Dock Shipbuilders share news, Mazagon Dock Shipbuilders share price:: Shares of the defence PSU Navratna entity Mazagon Dock Shipbuilders (MDL) are in focus in Tuesday's session (December 31) as the Ministry of Defence (MoD) in a bid to boost the country's naval defence inked two contracts worth Rs 2,867 crore with Mazagon Dock and France-based Naval Group.

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Of the combined contract, Mumbai-based Mazagon Dock bagged around Rs 1,990 crore order for the construction of an AAir Independent Propulsion (AIP) Plug and its integration with the Defence Research and Development Organisation(DRDO)-developed AIP system onboard Indian submarines.

The technology being indigenously developed by the DRDO is likely to augment the endurance of the country's conventional submarines.

The integration of AIP systems allows submarines to stay submerged for longer durations without the need for surfacing, thus improving stealth and operational capabilities, pointed out the Defence Ministry's press release.

The stock of MDL after marking its all-time high of Rs 2,930 in July this year, the stock has corrected nearly 23 per cent.

Trendlyne data shows that the consensus recommendation from 2 analysts for Mazagon Dock Shipbuilders Ltd. is HOLD, with one analyst signalling a 'strong buy' and the other giving a 'strong sell' recommendation.

The stock is currently trading above its 50-day, 100-day, 150-day and 200-day simple moving averages (SMAs) of Rs 2,220.5, Rs 2,209.1, Rs 2,197.4 and Rs 1,925.6, respectively. The stock has also traded with high volatility with 1-year beta as reported by Trendlyne at 1.6.
 

Mazagon Dock Shipbuilders share price performance 

In the previous day's trade, the stock ended lower by over 2 per cent at Rs 2,269.05 per share. In the last one year, shares of the company have delivered nearly multibagger return of 99 per cent.