Mazagon Dock’s market capitalization exceeds 25,000 crore rupees Ship’s crew

Mazagon Dock Shipbuilders surpassed a market capitalization of Rs. 25,000 crore on the BSE on Wednesday, becoming the first shipbuilding company to surpass the milestone. At Rs.26,461.73 crore, it is now among 212 BSE companies whose M-Cap is above the threshold.

Cochin Shipyard ranks second in the industry on this score at 7,827.97 crore M-Cap – nearly three times lower than Mazagon Dock Shipbuilders.

Shares of Mazagon Dock hit a 52-week high at Rs.1,337.70, continuing the strong momentum the stock has enjoyed in FY24 so far. The stock is up 80% since the start of the quarter.

Mazagon Dock shares were trading on the BSE and NSE around 12:30pm with aggregate volume in excess of 42 lakh shares.

Multibagger stock has offered returns of a whopping 441% over the trailing 12 months, outperforming the BSE Sensex which has returned 20% over the period according to the BSE’s available data. Since listing on October 12, 2020, when the market capitalization was approximately Rs.3,500 crore, Mazagon Dock Shipbuilders has grown more than sevenfold in less than three years.

According to Trendlyne, the stock has been trading with relatively high volatility and a beta of 2.09 for the past month.

The defense PSU company’s net income more than doubled to Rs.326 crore in the fourth quarter of FY23 compared to Rs.159 crore in the same quarter last year. Operating revenue for the January-March quarter was Rs.2,078.6 crore, up 49% from Rs.1,396.4 crore in the same period last year.

Trendlyne data also suggests that the state-owned company has no debt and is demonstrating financial stability. Revenue has increased over the past two quarters, while annual net income has improved over the past two years.

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