Mazagon Dock Shipbuilders Ltd. has received a contract of Rs 1,486.40 crore from Oil and Natural Gas Corp.
The contract involves a pipeline replacement project that must be executed on an engineering, procurement, and construction reimbursable basis, according to an exchange filing on Friday.
The defence manufacturer is supposed to execute the order by Feb. 28, 2026, it said.
Earlier, Sanjeev Singhal, chairman and managing director of the Mumbai-based shipbuilder, told NDTV Profit in an exclusive interview that the company is preparing to handle the significant order inflows anticipated in the industry over the next few years. The shipbuilding sector is expected to see an order book worth Rs 2 lakh crore within the next two years, divided among the three major shipbuilders.
Shares of Mazagon Dock Shipbuilders closed 3.86% lower at Rs 4,400.30 apiece, compared to a 1.24% fall in the benchmark BSE Sensex. The stock has risen 130.87% in the last 12 months and 92.92% on a year-to-date basis.
Out of four analysts tracking the company, two have a "buy" rating on the stock and two recommend "sell," according to Bloomberg data. The average of 12-month analyst price targets imply a potential downside of 15.8%.
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