Mazagon Dock’s shares are expected to stay in the spotlight on Friday after the company won a ₹121 crore order from Maharashtra State Power Generation Company (MAHAGENCO).
In a statement on Thursday, Mazagon Dock confirmed that MAHAGENCO has placed an order for the supply, installation, and commissioning of an AI-based security project at two locations: GTPS-Uran and KGSC-Pophali. The total contract value is ₹121.68 crore.
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Shares of the public sector defense company jumped over 8%, closing at ₹344, following a broader rise in defense stocks. This came after the Cabinet Committee on Security (CCS) approved defense deals worth ₹80,000 crore. These deals include the purchase of 31 Predator drones from the US, worth around ₹25,000 crore, and the domestic construction of two nuclear-powered submarines, a project valued at ₹45,000 crore.
Mazagon Dock’s stock has performed exceptionally well, delivering more than 100% returns over the last year, making it a favorite among investors.
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