Mazagon Dock Surges: ₹1 Lakh Cr Market Cap, 52-Week High, and 20% Rally in a Day for Multibagger

Mazagon Dock Shipbuilders, a state-run company, saw its shares hit a market capitalization of ₹1 lakh crore today. The stock surged by 20% to reach a new 52-week high of ₹5,621 on the NSE. By the end of the session, it closed at ₹5,618, gaining ₹933.45 or 19.93% from the previous day.

Market Value

Just before the market closed, Mazagon Dock’s market cap was ₹1.13 lakh crore. The stock traded heavily, with over 2 crore shares exchanged on the NSE, and the traded value of the shares was ₹10,841.64 crore.

On July 4, 2023, Mazagon Dock shares were at their 52-week low of ₹1,262.25. Over the past year, the stock has given multibagger returns of 338%, significantly outperforming the Nifty, which returned 25% in the same period. Year-to-date, the stock has more than doubled, with a 146% gain.

Relative Strength Index (RSI)

The stock’s rally has pushed it into an overbought zone, with its Relative Strength Index (RSI) and Money Flow Index (MFI) around 81 and 74, respectively. Typically, numbers above 70 indicate an overbought condition. The stock is also trading above its 50-day and 200-day simple moving averages (SMA) of ₹3,099 and ₹2,360, respectively.

Net Profit

Mazagon reported a consolidated net profit of ₹663 crore for the quarter ending in March, up from ₹326.2 crore the previous year. Total revenue for the quarter was ₹3,452 crore, up from ₹2,290 crore in Q4 FY23. The stock has been volatile with a 1-year beta of 1.3.

Among India’s listed shipping companies, Mazagon stands out. Other shipping stocks include The Great Eastern Shipping Company, Shipping Corporation of India, Shipping Corporation of India Land and Assets, and Dredging Corporation of India, with market caps of ₹17,671 crore and ₹3,566.64 crore.