India's Mazagon Dock Shipbuilders rise on contract win

Mazagon Dock Shipbuilders

21/12/2023 04:34

** Shares of Mazagon Dock Shipbuilders  MAZG.NS  rise as
much as 4.9% to 2,147.25 rupees
    ** Co says it signed contract with acquisition wing of
Ministry of Defence for construction and delivery of 6 vessels
for Indian Coast Guard for about 16 bln rupees ($192.27 mln)
    ** Stock on track to gain for the second consecutive month
and third straight week 
    ** Stock trading above its 200-day simple moving avg since
Aug 4, 2022
    ** Over 1.1 mln shares change hands as of 9:50 a.m. IST, vs
~1 mln shares on Wednesday
    ** MAZG last up 3.3% adding to YTD gains of ~166.6%, after
falling 4.4% on Wednesday


($1 = 83.2170 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))