Shares of two state-owned shipbuilding companies - Cochin Shipyard and Mazagon Dock Shipbuilders - saw a huge rise yesterday. Shares of both the companies touched their new peak of last one year yesterday and during the day's trading they saw a jump of up to 14 per cent. Market experts say that buying in the shares of these warship and warship makers has increased on the expectation that the September quarter results of both the companies are going to be very good.
Shares of Mazagon Dock Shipbuilders closed at Rs 731.25 with a jump of 14.60 per cent on NSE yesterday. During the day's trading, the share price had once touched Rs 749.00, which is now its new 52-week high.
Mazagon Dock results will be out on November 10
Mazagon Dock Shipbuilders is expected to announce its September quarter results on November 10. Given the increased focus of the government on the defense sector for some time now, the market expects the company's results to be very good.
Mazagon Dock Gives 335% Multibagger Return
Mazagon Dock Shipbuilders is a government company with a market value of Rs 14.64 thousand crore. The company was listed on the stock market in October 2020 and since then it has given a multibagger return of 335 per cent to its investors in the last 2 years. Only this year i.e. since the beginning of the year 2022, the company's shares have gained 157.80 percent.
Cochin Shipyard shares jump 6%
Shares of Cochin Shipyard closed at Rs 582, up 5.75 per cent on the NSE today. During the day's trading, the stock price had once touched Rs 590.00, which is now its new 52-week high.
Strong order book boosts expectations
Cochin Shipyard is also scheduled to release its September quarter results in the next few days. Many analysts, including ICICI Securities, are expecting strong results for the company on the back of a strong order book. The market cap of Cochin Shipyard is Rs 7.63 thousand crore and so far this year its shares have gained about 63.76 percent.
Disclaimer: The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor.
Fill Up The Form and we will call you