Stock Market Today: Defence stock Mazagon Dock Shipbuilders Ltd share price remains in focus as the company has declared the record date for stock split of existing 1 Equity Share of face value of Rs. 10/- each fully paid up into 2 Equity Shares of face value of Rs. 5/-
Mazagon Dock Shipbuilders share price has seen more than 30% correction since July highs in line with correction in share prices of there Defence Stocks. Howeever Mazagon Dock Shipbuilders share price is rebounding well and is up more than 12% in last one month.
Notably Mazagon Dock Shipbuilders Ltd share price still is up more than 98% year to date and is trading with gains of almost 125% in a year, having given Multibagger returns to the investors.
The Mazagon Dock Shipbuilders has declared the record date for stock Split of its shares from existing 1 Equity Share of face value of Rs. 10/- each fully paid up into 2 Equity Shares of face value of Rs. 5/-. The record date fixed by the Mazagon Dock Shipbulders for the purpose of determining the eligibility of shareholders for sub-division/ split is Friday 27 December, 2024 .
The investors will need to buy shares of Mazagon Dock Shipbuilders on 26 December 2024, so that their names appear in the list of eligible share holders on 27 december for sub-division/ split of shares
Meanwhile analysts maintain positive outlook for Mazagon Dock Shipbuilders share price. Axis Securities had rrecenltly recommended Mazagon Dock Shipbuilders shares as its Momentum Stock pick. The target price set by Axis Securities stood at ₹4965-5085 which indicates an upside of 8-12% for the stock trading at close to ₹4560.
Antique Stock Broking post Q2 results also had given positive ratings for the stock with a target price of ₹5,513. The company’s order book stands at aroud ₹39870 Crore with major projects on track to be executed in the next 2–3 years as per Antique. Next generation corvettes, follow-on order for three Scorpene submarines, and six P75-I submarines might significantly push the order book higher and aid in topline growth visibility in the long-term, said Antique Stock Broking
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
