Mazagon Dock Shipbuilders Shares Surge 6% on Issuing Clarification 

January 23, 2025January 23, 2025

Shares of Mazagon Dock Shipbuilders Ltd surged 6% on 23 January after the corporate issued a clarification that they’re in preliminary talks with Jawaharlal Nehru Port Authority (JNPA) regarding the Photo voltaic Cell Powered Boat constructed by the corporate. 

In its regulatory submitting, the corporate mentioned, “We want to make clear that, as of now, no such contract is signed between MDL and JNPA. Nevertheless, dialogue with JNPA is within the preliminary stage with regard to the Photo voltaic Cell Powered Boat constructed by MDL.”

A clarification was issued a couple of contract between the corporate and JNPA concerning an electrical water taxi. 

Earlier, on Monday, the Ministry of Defence introduced that they’d signed a Rs 1,990 crore contract with the corporate for expertise, permitting submarines to remain underwater for longer. 

Mazagon Dock Shipbuilders stands as a outstanding shipbuilding firm in India. Since its inception in 1960, the agency has efficiently launched a formidable 801 vessels, encompassing a big selection of maritime vessels, together with warships, submarines, cargo ships, passenger vessels, and offshore platforms.

The corporate’s experience lies primarily within the defence sector, with a exceptional monitor file of developing 802 vessels to this point. This spectacular portfolio consists of 28 warships, starting from superior destroyers to agile missile boats, in addition to 7 submarines. MDL’s capabilities prolong past navy vessels, encompassing Naval Platforms resembling Frigates and Destroyers alongside Service provider Ships and gear for the Oil Sector, together with Offshore Platforms and Jack-up rigs.

MDL boasts a strong infrastructure able to concurrently managing the development of 11 submarines and 10 warships. In keeping with nationwide initiatives, the corporate has established a devoted “Make in India” Division, specializing in selling indigenous manufacturing and decreasing dependence on imports within the shipbuilding sector.

At 3:30 pm, the shares of Mazagon Docks closed 1.63% increased at Rs 2,324.95 on NSE.

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