India's Mazagon Dock at record high on freedom for bigger investments

Mazagon Dock Shipbuilders

26/06/2024 05:19

** Shares of Mazagon Dock Shipbuilders  MAZG.NS  jumps 7.4%
to record high of 4,270.19 rupees
    ** Mazagon Dock gets "Navratna" status, which allows public
sector firms to take up investments of up to 10 bln rupees
(~$120 mln) without central government's approval
    ** Stock is the top gainer in Nifty mid-cap index
 .NIFMDCP100 , which is flat
    ** Stock eyes third consecutive session and month of gains
    ** Stock has now surged ~83% YTD, compared to a ~20% rise in
the mid-cap index
 
 ($1 = 83.4470 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.das@thomsonreuters.com))