Mazagon Dock gains on launching sixth Scorpene-class submarine ‘INS Vagsheer’
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Mazagon Dock Shipbuilders is currently trading at Rs. 321.85, up by 7.70 points or 2.45.14% from its previous closing of Rs. 314.15 on the BSE.
The scrip opened at Rs. 321.40 and has touched a high and low of Rs. 324.00 and Rs. 318.75 respectively. So far 16845 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 337.75 on 18-Apr-2022 and a 52 week low of Rs. 191.70 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 337.75 and Rs. 305.25 respectively. The current market cap of the company is Rs. 6336.09 crore.
The promoters holding in the company stood at 84.83%, while Institutions and Non-Institutions held 3.03% and 12.14% respectively.
Mazagon Dock Shipbuilders has launched ‘INS Vagsheer’, the sixth Scorpene-class submarine under Project-75. Post launch, the Submarine will undergo a very comprehensive and rigorous set of tests and trials, for more than a year, to ensure delivery of a fully combat worthy submarine, capable of operation in all modes and regimes of deployment.
Vagsheer is named after the Sand Fish, a deadly deep sea predator of the Indian Ocean. The first Submarine Vagsheer, ex-Russia, was commissioned into the Indian Navy on December 26, 1974, and was decommissioned on April 30, 1997 after almost three decades of yeoman service to the nation. In true nautical tradition, she finds a new incarnation, by the same name. Vagsheer, infused with new life, by Mazagon Dock, once again a very powerful predator of the deep, guarding the vast maritime interests of nation.
The Mazagon Dock has so far delivered four Scorpene-class submarines under the project to the Indian Navy - INS Kalvari, INS Khanderi, INS Karanj and INS Vela. The fifth submarine ‘Vagir’ is currently under trial at sea, and is likely to be commissioned before the end of this year.
Mazagon Dock Shipbuilders is the India's leading defence public sector undertaking shipyard under the Ministry of Defence. It is primarily engaged in constructing and repairing warships and submarines for the MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients.
