Cochin Shipyard, Mazagon Dock soar up to 8% on hopes of strong Q2 results

Thus far in FY23, MDL (up 277%), GRSE (201%) and Cochin Shipyard (185%) have seen their market price appreciated more than 100%, as against nearly 4% rise in Sensex.

Shares of state-owned shipbuilding companies Cochin Shipyard and Mazagon Dock Shipbuilders (MDL) rallied up to 8 per cent, hitting multi-year highs in an otherwise subdued market on expectation of strong earnings for the September quarter (Q2FY23).

Shares of MDL soared 8 per cent to Rs 688.60 in intra-day trade on Wednesday. The stock surpassed its previous high of Rs 680, touched on October 10, 2022. The board of directors for the company are scheduled to meet on November 10, to consider and approve unaudited financial results for the quarter and half year ended September 30, 2022. The board will