The shares of Mazgaon Dock Shipbuiders rocket up more than 9 per cent on the NSE (National Stock Exchange). At its board meeting on Tuesday, October 22, the company declared that it would consider a stock split and an interim dividend.
The shares of Mazgaon Dock Shipbuilders went on to hit the day high level of Rs 4,610.00 per share after hitting the opening bell at Rs 4,306.00 per share on the NSE (National Stock Exchange).
The stock was trading at Rs 4,637.60 per share on the NSE at 12.59 pm, with a gain of over 9 per cent amounting to Rs 393.60 per share.
Additionally, if the board decides to declare an interim dividend on equity shares for the fiscal year 2024-2025, the company has set the record date for that date at Wednesday, October 30, 2024.
"The board of directors of Mazagon Dock Shipbuilders Limited is scheduled to meet on Tuesday, October 22, 2024, to consider the declaration of interim dividends for the financial year 2024-25 and the split of equity shares of the company," the state-run defence company stated in an exchange filing.
Mazgaon Dock Shipbuilders Q1 FY25
For the quarter ending June 2024 (Q1 FY25), Mazagon Dock Shipbuilders reported a 121 per cent YoY increase in its profit after tax (PAT) to Rs 696 crore. In the corresponding quarter of the previous fiscal year, the amount was Rs 314.30 crore.
Compared to Rs 2,172.76 crore in the first quarter of the prior fiscal year, the operating revenue for the period was Rs 2,357 crore. On an annual basis, this represents an increase of 8.5 per cent.
Correction from record high
As of Thursday's close, the price of Mazagon Dock's shares has dropped 27.6 per cent from the NSE's (National Stock Exchange) record high of Rs 5,859.95 per share on July 5, 2024.
