This PSU stock outperformed market, surged 40% in five trading days

In the past three months, the market price of MDL more-than-doubled or zoomed 136 per cent, as against 9 per cent rise in the S&P BSE Sensex.

Shares of Mazagon Dock Shipbuilders Limited (MDL) continued its upward movement, as they rallied 8 per cent to hit a new high of Rs 601.55 in Thursday’s intra-day trade, on the back of heavy volumes and strong business outlook. The stock of public sector undertaking (PSU) company traded higher for the fifth straight day, surging 40 per cent during the period.

At 11:05 AM; MDL traded 5 per cent higher at Rs 584.90, as compared to 0.78 per cent rise in the S&P BSE Sensex. The average trading volumes on the counter more-than-doubled as around 6.9 million equity shares