Rs 12.11 Dividend: Multibagger Defence Stock To Go Ex-Dividend Soon, Should You Buy?

Mazagon Dock Shipbuilders shares are set to trade ex-dividend on September 19, 2024. The company had recommended a final dividend of Rs 12.11 per share on May 29, 2024. The company set September 19, 2024 as the record date for final dividend. Mazagon Dock Shipbuilders shares zoomed 915% in last 2-years and slipped over 10% in last 2-weeks.

Leading brokerage house Antique Stock Broking recommended buy call to Mazagon Dock Shipbuilders shares with target price of Rs 5,486 per share. Mazagon Dock Shipbuilders has a market capitalisation of Rs 87,002.01 crore. Check details below:

Mazagon Dock Shipbuilders Shares To Trade Ex-Dividend: As per the BSE filing of Mazagon Dock Shipbuilders dated September 9, 2024, "Pursuant to the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Transfer of Shares of the Company will be closed for the purpose of the AGM and Dividend from 20" September 2024 to 26" September 2024 (both days inclusive) and the Company has fixed Thursday, 19" September, 2024 as the record date for determining the eligible shareholders entitled to receive the Final Dividend."

Mazagon Dock Shipbuilders Bags Order From ONGC: Mazagon Dock obtained a notification for the subsea pipeline replacement project 8 group A (PRP 8 Group A), awarded on an EPC reimbursable basis at a ceiling price of Rs 1,486.40 crore. Earlier, Mazagon Dock and other defence stocks stayed in the limelight after the Union government's Defence Acquisition Council (DAC) gave nod to major procurements worth Rs 1,44,716 crore for the Armed Forces. The PSU's order book till August 14 stood at Rs 40,400 crore.

Mazagon Dock Shipbuilders Financials: Mazagon Dock Shipbuilders announced a surge of 121% YoY in its profit after tax (PAT) to Rs 696 crore for the quarter ended June 2024 as against Rs 314.30 crore PAT announced in the similar quarter of last year. Its revenue from operations for June 2024 quarter declared at Rs 2,357 crore, up 8.5% as against Rs 2,172.76 crore in the similar quarter of last year.

Mazagon Dock Stock Performance & Return: The 52-week high price of Mazagon Dock Shipbuilders share on BSE is Rs 5859.95 per share (as on 05/07/2024) and 52-week low price is Rs 1742.00 per share (as on 26/10/2023), respectively. Mazagon Dock Shipbuilders shares jumped 131% in last 6-months, gained 109% in last 1-year, and zoomed 1649% in last 3-years.

About: Mazagon Dock Shipbuilders Limited is one of the leading shipbuilding yards in India. The History of Mazagon Dock dates back to 1774, when a small dry dock was constructed in Mazagon. Over the years, MDL has earned a reputation for quality work and established a tradition of skilled and resourceful service to the shipping world in general and the Indian Navy & Coast Guard. It was incorporated as a Private Limited Company in 1934. After its takeover by the Government in 1960, Mazagon Dock grew rapidly to become the premier war-shipbuilding yard in India, producing warships for the Navy and offshore structures for the Bombay High.

Disclaimer: The stock has been picked from the brokerage report of Antique Stock Broking. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.