Shares of India’s biggest warship builder, Mazagon Dock Shipbuilders Ltd, are in action even as stock market benchmark indices Sensex and Nifty tumbled in early trade on Friday after a day’s breather. The stock opened gap up with a gain of 2 per cent at Rs 2,398.95 against the previous close of Rs 2,351.95 on the BSE. The scrip gained further to touch the high of Rs 2,559, representing a gain of 8.8 per cent. On the National Stock Exchange (NSE), the stock opened at Rs 2,383.30, up from the previous close of Rs 2,352.50, and touched an intraday high of Rs 2,560. Last seen, the stock was trading at Rs 2,522 with a gain of 7.23 per cent, and the market cap of the company stood at Rs 1,01,732.44 crore.
Mazagon Dock Shipbuilders issues clarificationย
The action in the stock comes as the company has issued clarification on media reports about a potential defence contract worth Rs 99,000 crore. The company has confirmed that the CNC (Contract Negotiation Committee) negotiations between the government and Mazagon Dock Shipbuilders have been completed, and the proposal has been submitted for approval by the competent authority.
“In furtherance to our earlier disclosures dated 25.08.2025, 10.09.2025 and 09.01.2026, this is to update that, the CNC negotiations between Government and Mazagon Dock Shipbuilders Limited are completed. The proposal has been taken up for approval of the competent authority,” the filing reads.ย
Swan Defence, Mazagon Dock sign pact
Mazagon Dock Shipbuilders (MDL) recently signed an agreement with Swan Defence and Heavy Industries for collaboration in the design and construction of Landing Platform Docks (LPDs) for the Indian Navy.
The Defence Acquisition Council (DAC) last week accorded approval for the acquisition of LPDs – a critical capability addition for the Indian Navy to undertake amphibious operations, and deliver humanitarian assistance and disaster relief (HADR) missions.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)