Multibagger defence PSU stock Mazagon Dock rises 7% as shipbuilder is set to commission two destroyers before December 2024

After Zee Business reported that Mazagon Dock Shipbuilders will commission two destroyer ships before December, the PSU defence stock jumped to the day's high of 7 per cent on BSE on Monday (October 21, 2024).

The stock that closed the trading session on Friday at Rs 4,531.30 jumped over 7 per cent to touch Monday's high of Rs 4,850.00.

The multibagger defence stock that started trading on Monday at Rs 4,599.00 was closed the session on Monday higher by 2.73 per cent, or Rs 123.65, at Rs 4,654.95.

Zee Business sources told that Surat P15B destroyer, and Nilgiri P17A Frigate will be commissioned before December 2024.

The construction of Surat P15B destroyer, worth Rs 35,000 crore, started in 2011.

Surat P15B is the last destroyer of Project 15B.

Mazagon Dock has also developed bridge window glass.

Mazagon Dock Share Price History

Mazagon Dock is a multibagger PSU defence stock with 141 per cent rise in the 1-year period.

Benchmark Nifty 50, meanwhile, has jumped 28.50 per cent in the same duration.