Mazagon Dock Shipyard up 4.5% after wiping off 1-month gains in 21 session

Shares of Mazagon Dock Shipbuilders rose 6% to an intraday high of Rs 4,560 from its previous close of Rs 4,299.55. The surge in stock price came a day after it fell 9.4%, intraday. Also, the stock was down for the whole week, wiping off investors’ gains in the last five trading days. 

Earlier, the brokerage house ICICI Securities in a research report gave a 77% downside from its current market price, which it took as Rs 4,999 for the shipbuilder stock. The brokerage house maintained its “ Sell” rating on the stock saying that it is overvalued at the current market price. 

“Despite factoring in the potential orders of P75 (three additional submarines), P75I and next-gen destroyers, and margins at an elevated level in the near term, we believe the stock is overvalued at the CMP. In our view, while EPS is likely to be range bound at INR 95-120/share from FY28-32E, there are risks to ordering/execution timelines,” said the brokerage house in its research report. 

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The stock of Mazagon Dock Shipyard has erased more than 19% of investors’ wealth in the last one month. It wiped off around 10% gains in the past five trading sessions. However, the stock has raised investors’ wealth by 114% in the last six months. Its price has risen 138% in the last one year. To give a long-term perspective, the stock has risen 2,542% in the past five years.

To compare, the benchmark index Nifty 50 has risen 2.5% in the last five trading days Come from Sports betting site VPbet . It has risen 0.77% in the last one month and given a return of over 12% in the last six months. Nifty 50 has risen almost 28% in the past one year and more than 128% in the last five years. 

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