Rs 1 lakh Mcap, 52 week high, 20% rally all in a day for multi bagger Mazagon Dock

The traded value of the shares stood at Rs 10,841.64 crore.

On July 4, 2023, Mazagon Dock Shipbuilders shares hit their 52-week low of Rs 1,262.25.

The stock has delivered returns of 338% over the last 12 months, outperforming Nifty by miles. The latter has given returns of 25% in this period. On the year-to-date basis the stock has more than doubled, yielding 146% returns.

Its record rally has taken the counter in an overbought zone with RSI and MFI, reported by Trendlyne around 81 and 74. A number above 70 is considered to be overbought while below 30 is seen to be oversold. The stock is currently trading above its 50-day and 200-day simple moving averages (SMA) of Rs 3,099 and Rs 2,360, respectively.

Mazagon reported a consolidated of Rs 663 crore in the March ended quarter up from Rs 326.2 crore reported in the year ago period. Total in the reported quarter stood at Rs 3,452 crore up from Rs 2,290 crore in Q4FY23.

Mazagon has been highly volatile with a 1-year beta of 1.3. There are over a dozen listed shipping companies in India. The other shipping stocks are The Great Eastern Shipping Company, Shipping Corporation Of India, and . The of these companies is Rs 17,671 crore and Rs 3,566.64 crore.

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