Mazagon Dock came on the bourses in October 2020 with an IPO price of ₹145 per share. The stock has increased by more than 3,300% since its initial public offering (IPO) in less than four years. Mazagon Dock Shipbuilders Ltd. shares rose 6.3% to ₹4,990 on Thursday, bringing the stock up in seven of the last nine trading sessions.
Following Thursday’s increase, the stock’s market capitalization surpassed ₹1 lakh crore. Mazagon Dock Shipbuilders’ shares have already more than doubled in 2024, up 115%. Over the last 12 months, the stock has increased by more than 280%. The stock has doubled every year for the past three years. It increased by 185% in 2022, 187% in 2023, and is now at the same level as in 2024. Mazagon Dock shares are trading in “overbought” zone, with a Relative Strength Index (RSI) of 77.
An RSI value above 70 indicates that the stock is in the “overbought” zone. Mazagon Dock came on the bourses in October 2020 with an IPO price of ₹145 per share. The stock has increased by more than 3,300% since its initial public offering (IPO) in less than four years. Mazagon Dock is a state-run shipyard, with the Indian government owning the majority stake.As of the March quarter, the government owned 84.8% of Mazagon Dock.
The government’s interest is valued at approximately ₹85,000 crore. While domestic mutual funds do not own a major position in the company, it has 3.75 lakh small or retail shareholders as of the March quarter. Mazagon Dock Shipbuilders shares are currently trading at ₹4,935, up 5.3%.
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