Mazagon Dock shares up 2% after company fixes record date for stock split

The up move in the share price came after the company announced that it has fixed Friday, December 27, 2024 as the 'Record Date' for determining the eligibility of shareholders for stock-split

Mazagon Dock share price: Shares of shipbuilding company Mazagon Dock Shipbuilders Limited (MDL) inched up to 1.74 per cent to hit 4,623.85 per share on Tuesday, December 3, 2024.

 

The up move in the share price came after the company announced that it has fixed Friday, December 27, 2024 as the ‘Record Date’ for the purpose of determining the eligibility of shareholders for sub-division/ split.

 

In an exchange filing, the company said, “We wish to inform you that, the Company has fixed Friday 27 December, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (one) equity share of face value of Rs 10 (Rupees Ten only) each fully paid up into 2 (two) equity shares of face value of Rs 5 (Rupees Five only) each fully paid up.”

 

Mazagon Dock Shipbuilders, founded in 1774 and based in Mumbai, is one of India's leading shipbuilding firms. Since 1960, the company has launched 801 vessels, including a diverse range of warships, submarines, cargo and passenger ships, and offshore platforms.

 

MDL specialises in the defence sector, having constructed 802 vessels to date. This includes 28 warships, such as advanced destroyers and missile boats, as well as 7 submarines. The company's portfolio also includes Naval Platforms like Frigates, Destroyers, and Missile Boats, along with Merchant Ships and Oil Sector equipment such as Offshore Platforms and Jack-up rigs.

 

With an infrastructure capable of simultaneously handling 11 submarines and 10 warships, MDL has established a dedicated "Make in India" Department to focus on indigenisation. Approximately 75 per cent of the company's content is dedicated to warship construction, leveraging indigenous materials to significantly cut costs.

 

Mazagon Dock's headquarters is located in Mumbai, serving the Western Naval Command of the Indian Navy. It operates several shipbuilding facilities, including the North Yard, South Yard, Nhava Yard, and Anik Yard, with a specialised Submarine Construction Yard at the East Yard. The Alcock Yard, situated above the North Yard, and additional land adjacent to the South Yard support various construction activities, including modular workshops for shipbuilding, cradle workshops for submarines, a Goliath Crane, and a Wet Basin.

 

The market capitalisation of Mazagon Dock Shipbuilders is Rs 92,150.14 crore, according to BSE. The company falls under the BSE200 category. 

 

At 9:21 AM, shares of Mazagon Dock Shipbuilders were trading 0.53 per cent higher at Rs 4,568.90 per share. In comparison, BSE Sensex was trading 0.11 per cent higher at 80,338.36 levels.