Mazagon Dock Shares: Shares of Mazagon Dock Shipbuilders saw a rise on Monday, December 23, 2024, reaching an intraday high of ₹4,838.70, up by 2.39%. The increase came after the company delivered two warships, Nilgiri and Surat, to the Indian Navy, showcasing its commitment to advanced naval construction and “Make in India” goals.
According to Business Standard, in an exchange filing, the company said, “Mazagon Dock Shipbuilders Limited (MDL) a Navratna CPSE has delivered the First Stealth Frigate of Project 17A Class Ship and the Fourth Stealth Destroyer of Project 15B Class Guided Missile Destroyer i.e. Yard 12707 (Surat) to the Indian Navy on Dec 20, 2024.”
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Project 17A Ships Overview
Nilgiri is the first ship under Project 17A, featuring modern technology and advanced stealth capabilities. Designed by the Indian Navy’s Warship Design Bureau, it uses radar-transparent materials and an innovative hull shape to evade detection. Nilgiri is armed with state-of-the-art weapons and sensors, making it capable of tackling submarines, missiles, aircraft, and enemy ships. It can operate independently without support vessels and serves as a task force flagship.
Surat, part of Project 15B, is another advanced destroyer with multi-role capabilities. It is equipped with BrahMos missiles and Barak-8 Medium-Range Surface-to-Air Missiles for offensive and defensive operations. For undersea threats, it uses advanced sonar systems, torpedo launchers, and anti-submarine rockets. With 72% indigenous components, Surat highlights Mazagon Dock’s strides in cost-effective, homegrown naval production.
About Mazagon Dock Shipbuilders
Established in 1774, Mazagon Dock is one of India’s premier shipbuilding companies, based in Mumbai. Over its long history, it has delivered more than 800 vessels, including warships, submarines, and commercial ships. Specializing in defense projects, the company has built 28 warships, such as destroyers and missile boats, and 7 submarines.
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The company operates large shipbuilding yards in Mumbai, with advanced facilities like modular workshops, cranes, and wet basins. It also has a dedicated “Make in India” department, which focuses on indigenization and reducing costs. Around 75% of Mazagon Dock’s projects are for warship construction, reinforcing its critical role in India’s defense infrastructure.
Stock Market Performance
Mazagon Dock’s market value is ₹94,453.44 crore, placing it in the BSE 200 category. Despite the initial rise, its shares were trading slightly lower at ₹4,683.10 per share by 1:50 PM, down 0.90%. Meanwhile, the BSE Sensex was up 0.40%, trading at 78,350.31. This performance reflects investor interest in the company’s achievements while balancing broader market trends.
Mazagon Dock’s success with Nilgiri and Surat underlines its commitment to excellence in shipbuilding, boosting confidence in its role as a key contributor to India’s naval strength.
