Stock split, interim dividend for Mazagon Dock next week; shares react 

Multibagger stock: Shares of Mazagon Dock Shipbuilders Ltd rose 3% in early deals amid weakness in the broader market today. The rally in the stock came as board of the firm would consider a stock split and declare interim dividend for the financial year 2024-25 on October 22. The multibagger stock rose 3.03% to Rs 4368.95 on Friday against the previous close of Rs 4240.35. Market cap of the firm climbed to Rs 87,261 crore. 

Mazagon Dock shares have gained 102% in a year and risen 601% in two years. The stock has zoomed 1,508% in three years. 

Total 0.46 lakh shares of the firm changed hands amounting to a turnover of Rs 19.92 crore. 

In terms of technicals, the relative strength index (RSI) of Mazagon Dock stands at 48.3, signaling it's trading neither in the overbought nor in the oversold zone. Mazagon Dock shares are trading higher than the 10 day, 20 day, 30 day, 150 day, 200 day but lower than the 50 day and 100 day moving averages.

The company has fixed the “Record Date" of Wednesday, 30 October 2024 for the purpose of payment of Interim Dividend on Equity Shares for the Financial Year 2024-25, if declared by the Board.

Mazagon Dock Shipbuilders Ltd (MDSL) is a leading defence public sector undertaking shipyard under the Ministry of Defence (MoD). Mazagon Dock is primarily engaged in constructing and repairing warships and submarines for MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients.