Mazagon Dock gave a big update to investors, will keep an eye on the stock

Mazagon Dock informed after market close on Thursday that the government will sell up to 4.83 per cent stake in Mazagon Dock Shipbuilders through an Offer for Sale (OFS). The OFS includes a base size of 2.83 per cent and a green shoe option of 2 per cent. The floor price for the offer has been set at Rs 2,525 per share, which is at an 8 per cent discount to the current market price (CMP) of the stock. The OFS will open for non-retail investors on Friday and for retail investors on April 7. Since 1960, the Navratna company has supplied more than 800 ships, including 25 warships and 3 submarines, and its current order book is more than Rs 54,000 crore.

Mazagon Dock Shipbuilders' consolidated profit during the quarter ended December 2024 increased by 29.33 per cent to Rs 807.04 crore as compared to Rs 623.87 crore in the year-ago quarter. Mazagon Dock Shipbuilders' revenue during the October-December 2024 quarter stood at Rs 3,143.62 crore, an increase of 30 per cent year-on-year as compared to Rs 2,362.47 crore in the same quarter last year. Stock performance The company's stock closed 5.15 per cent higher at Rs 2,738 on Thursday. The company's stock has seen a growth of 144.82 per cent in the last one year. 

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