Mazagon Dock shares in news today, here's why 

Shares of Mazagon Dock Shipbuilders are in news today after the firm said it started production activity for the first Multipurpose Cargo Vessel (MPV) for Navi Merchants, Denmark, on September 23. Simon Christensen, CEO, Navi Merchants was the Chief Guest for the Plate Cutting ceremony. 

In the previous session, the multibagger stock slipped 2.21% to close at Rs 4221.95 against the previous close of Rs 4317.35 on BSE. Market cap of the firm fell to Rs 85,152 crore.

Total 0.55 lakh shares of the firm changed hands amounting to a turnover of Rs 23.52 crore. Mazagon Dock shares have a one-year beta of 1.4, indicating very high volatility during the period. 

The stock has risen 116% in six months  and gained 781% in two years. 

In terms of technicals, the relative strength index (RSI) of Mazagon Dock stands at 44, signaling it's trading neither in the overbought nor in the oversold zone. Mazagon Dock shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, but higher than 100 day, 150 day and 200 day moving averages.

Mazagon Dock has inked a contract with Navi Merchants, Denmark to design, build, and deliver a total of 6 + (4 optional) vessels, each with a capacity of 7500 DWT. The project is valued at 86.05 million $(Rs 700 crores approx.). Each vessel will feature a hybrid propulsion drive, built to meet stringent cmission standards and shall be classified under DNV (Det Norske Veritas).