Mazagon Dock jumps 9% ahead of record date for interim dividend payment

Mazagon Dock Shipbuilders stock was trading at ₹2,657.60, up 9.25 per cent from its previous close of ₹2,432.55

Mazagon Dock share price: Shares of state-run defence company Mazagon Dock Shipbuilders rallied over 9 per cent on Tuesday, hitting an intraday high of ₹2,666 ahead of the record date for its second interim dividend for FY25. The stock opened at ₹2,467.10 per share on the National Stock Exchange (NSE) today.

 

The company had declared a second interim dividend of ₹3 per equity share for the financial year 2024–25. The record date to determine shareholder eligibility for the payout was fixed as Wednesday, April 16, 2025. 

 

"Declaration of 2nd Interim Dividend of ₹3 per equity share of ₹5 each fully paid-up for the financial year 2024–25. Further, the company has fixed Wednesday, April 16, 2025, as the record date for the same,” Mazagon Dock said in its exchange filing. The dividend is expected to be paid on or before May 7, 2025.

 

 

At 12:45 PM, the stock was trading at ₹2,657.60, up 9.25 per cent from its previous close of ₹2,432.55. In comparison, the benchmark Nifty50 index was up 2.21 per cent, or 504.10 points, at 23,332.65. With Tuesday’s rally, Mazagon Dock’s market capitalisation rose to ₹1.07 trillion.

 

However, the stock is still quoting 9 per cent below its 52-week high of ₹2,930 touched on July 5, 2024. On a year-to-date basis, the stock has jumped nearly 20 per cent compared to around 1.1 per cent fall in the Nifty50 index. 

 

Mazagon Dock OFS details

Earlier this month, Mazagon Dock shares witnessed a steep correction, falling around 20 per cent in just three sessions, as the government's offer for sale (OFS) opened for institutional investors. The non-retail portion was fully subscribed on day one on the back of solid interest from institutional investors. However, the stock touched a low of ₹2,200, much below the OFS price, which was fixed at ₹2,525 per share.

  On April 7, the OFS opened for retail investors, employees, and non-retail bidders who had chosen to carry forward their unallotted bids. However, retail participation remained negligible, with a subscription rate of just 0.07 per cent, receiving 1,127 bids against an offer size of 1.95 million shares. The government had planned to divest up to 2.83 per cent stake in the defence PSU, with an option to sell an additional 2 per cent in case of strong demand.