Mazagon Dock Shipbuilders Ltd. (MDL) continues to attract attention in the stock market with notable price movements and significant developments. As of the latest trading session, the share price stands at ₹4,166, reflecting a slight increase of 1.95% from the previous close. This update provides an overview of the company’s recent performance, important price levels, and relevant news.
Main Points
Mazagon Dock’s share price has shown volatility recently. It opened at ₹4,187.70 and reached a high of ₹4,268.75 during the trading session. However, it has faced some downward pressure in the past month, with a decline of approximately 12.97% recorded over this period. The stock’s performance over the last three years has been impressive, with a remarkable return of 1,525.23% compared to the Nifty 100’s return of just 51.25%.
Key Performance Metrics
- Market Capitalization: ₹84,625 crore
- P/E Ratio: 36.5
- Book Value: ₹310
- Dividend Yield: 0.65%
- Return on Equity (ROE): 35.2%
These figures indicate that Mazagon Dock has maintained a strong financial position despite recent fluctuations in its stock price.
Traders are closely monitoring key support and resistance levels for Mazagon Dock shares:
| Resistance Levels | Support Levels |
|---|---|
| First Resistance: ₹4,291.30 | First Support: ₹4,182.60 |
| Second Resistance: ₹4,360.00 | Second Support: ₹4,142.60 |
| Third Resistance: ₹4,400.00 | Third Support: ₹4,073.90 |
The stock is currently trading below its 50-day moving average (DMA) but remains approximately 38% above its 200 DMA. Analysts suggest that for a bullish trend to resume, MDL must break above the first resistance level and maintain its position there.
Mazagon Dock has been in the news for securing significant contracts recently. Notably, it received an order worth ₹1,486 crore from ONGC for offshore support vessels. This contract is expected to bolster the company’s revenue streams and enhance its operational capabilities.
Moreover, MDL’s solid financial performance is underscored by its debt-free status over the past five years and an annual revenue growth rate of approximately 24%. The company reported an operating revenue of ₹9,650 crore over the trailing twelve months.
The shareholding structure of Mazagon Dock also reflects stability:
- Promoters: 84.83%
- Mutual Funds: 0.68%
- Insurance Companies: 0.13%
- Foreign Portfolio Investors: 2.44%
- Individual Investors: 9.67%
This distribution indicates a strong promoter holding which can be a positive sign for potential investors.
Despite recent declines in share price due to profit booking in PSU defense stocks, market sentiment around Mazagon Dock remains cautiously optimistic due to its robust order book and strong fundamentals. Analysts recommend watching for any breakout above resistance levels as a signal for potential upward movement.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
