Stock Market Today: Shares of Mazagon Dock Shipbuilders remained in focus on Friday, December 27, as the stock traded ex-split today in the ratio of 2:1.
Mazagon Dock share price dipped marginally, down 1.33 per cent on the BSE at ₹2332.80 apiece in early morning trade. The stock opened at ₹2375 as against its previous close of ₹2364.40, but soon gave up gains to trade in the red.
Mazagon Dock stock split
Mazagon Dock Shipbuilders had declared a sub-division or split of existing shares in the ratio of 2:1. Mazagon Dock shareholders will receive two shares of the company of the face value of ₹5 each for each share of face value of ₹10 each held by them.
Mazagon Dock Shipbuilders declared December 27, 2024, the record date for sub-division or split of existing shares, on December 2, 2024.
As per the T+1 settlement mechanism, investors needed to buy shares of Mazagon Dock Shipbuilders a day prior to the record date for their names to appear in the list of eligible shareholders for receiving the sub-divided or split shares.
Mazagon Dock Shipbuilders share price movement
Mazagon Dock Shipbuilders’ share price closed at 4728.80 on Thursday, with gains of 2.14% or ₹99.30 on the BSE. Despite market volatility, the share price has gained almost 6% in the last month. The share price, having risen around 106% year to date, has given multibagger returns to investors.
Mazagon Dock Shipbuilders’ business updates
Mazagon Dock Shipbuilders, 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 December 20.
Mazagon Dock Shipbuilders also announced commencing the production activity for the first Fast Patrol Vessel (FPV) of 14 FPVs project for Indian Coast Guard (ICG) on December 19. Along with this, plate cutting of 2°¢ ship of Next Generation Offshore Patrol Vessels (NGOPVs) was also undertaken.
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