India's Mazagon Dock Shipbuilders jumps on quarterly profit surge

Mazagon Dock Shipbuilders

29/05/2024 10:42

** Shares of Mazagon Dock Shipbuilders  MAZG.NS  up as much as
12.1% to 3,403.95 rupees; last up 10.7% 
    ** Jump comes after the shipbuilding company reported a more
than two-fold jump in its March-qtr consolidated profit to 6.63
bln rupees ($79.6 mln)  
    ** Revenue from operations rose 49.3% Y/Y 
    ** Stock set to snap two straight session of losses, if
trend holds 
    ** Co also recommended a final dividend of 12.11 rupees per
share
    ** More than 8 mln shares change hands by 3:08 p.m. IST,
2.8x 30-day avg
    ** Including session's gain, stock is up 47.5% YTD




($1 = 83.3268 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))