Defense stock, Mazagon Dock shares to revive soon, delivers Vaghsheer submarine to Indian Navy

Defense Navratna stock, Mazagon Dock Shipbuilders Ltd. opened at Rs 2,225.00, slightly down by 0.09% from its previous close of Rs 2,232.55 on 10th January. The stock reached a high of Rs 2,235.00 and a low of Rs 2,167.30. By midday, it traded at Rs 2,230.65, with a market cap of Rs 89,979.96 crore. In a week, the stock slightly declined by 0.19%.

Over six months, it experienced a downturn of 19.6%. However, looking back over the entire year, it impressively gained 94.6%. The dividend yield is at 0.79%. The stock is overvalued by 49%.

Mazagon Dock Shipbuilders Limited announced through an exchange filing, the delivery of the Sixth Scorpene Class Submarine, ‘VAGHSHEER,’ to the Indian Navy, which aligns with the ‘Aatmanirbhar Bharat’ and ‘Make in India’ initiatives.

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The submarine, fully combat-ready, was handed over after rigorous testing and trials, enhancing India’s stature in submarine building. The submarine Vaghsheer boasts advanced stealth features, including acoustic silencing and optimized hydrodynamic shape, equipped to launch torpedoes and anti-ship missiles.

It promises a transformational shift in naval warfare capabilities, reflecting MDL’s commitment to fulfilling the Indian Navy’s operational requirements. Additionally, Vaghsheer features indigenously developed systems like an air conditioning plant and an internal communication system, furthering India’s self-reliance in defense technology.

The Scorpene project’s progress was supported by the Department of Defence Production and the Indian Navy, highlighting collaborative efforts in defense manufacturing.

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