Mazagon Dock Shipyards fell as much as 6.2% to an intra-day low of Rs 4,375.35 ahead of the board meeting for declaring Q2 results. The stock has fallen 25% from an all-time high of Rs 5,860.
Recently, the company announced that its Board of Directors will meet to consider an interim dividend for FY25 and the company’s first-ever stock split.
“We hereby intimate the Stock Exchanges as per the provisions of Regulation 29 of the SEBI(LODR) Regulations, 2015, that a meeting of the Board of Directors of Mazagon Dock Shipbuilders Limited is scheduled on Tuesday, 22 October 2024, inter alia, to Consider: a) Declaration of Interim Dividend for the financial year 2024-25 b) Sub-division/ Split of Equity Shares of the company pursuant to the provisions of section 61(1)(d) of the Companies Act, 2013,” said the company in an exchange filing.
Mazagon Dock Shipbuilders in Q1
The PSU defence company reported a 121% YoY jump in its net profit standing at Rs 696 crore for the first quarter of FY25 compared to Rs 314.30 crore in the year-ago period. Its revenue from operations came in at Rs 2,357 crore against Rs 2,172.76 crore in the first quarter of the previous financial year. An increase of 8.5% year-over-year.
Mazagon Dock Shipbuilder Vs Nifty 50
The stock of Mazagon Dock Shipbuilders has fallen over 1.5% in the past five trading sessions. However, the PSU defence company’s stock has delivered a 0.17% return in the last one month and given multi-bagger returns in the past six months, almost 100%, or can be seen as doubling the investors’ wealth in the past six months. The stock has risen 88% from year to date. It has raised investors’ wealth by 124% in the last one year.
To compare, the benchmark index Nifty 50 has fallen 1.2% in the past five days. The index has fallen almost 5% in the last one month. However, the index has given a return of 11% in the past six months. The Nifty 50 has risen 14% from year to date. The index has raised investors’ wealth by 28% in the last one year.
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