Home NewsStock Market News mazagon dock share price: This defence stock with consistent FII buying trades ex-dividend

mazagon dock share price: This defence stock with consistent FII buying trades ex-dividend

by WOOWinvest
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mazagon dock share price: This defence stock with consistent FII buying trades ex-dividend


New Delhi: Shares of traded ex-dividend on Monday. The stock has been in limelight for quite some time given the demand for defence stocks, strong order book and amid the government’s thrust on indigenisation and Aatmanirbhar Bharat vision.

In the last one month, the stock has rallied 34 per cent while its 3-month return is over 75 per cent. The stock was trading nearly 2 per cent higher in Monday’s session.

The company announced a final dividend for FY23 amounting to Rs 1.63 per share.

The company has fixed September 20 as the record date for determining eligible shareholders entitled to receive the final dividend, according to an exchange filing.

FIIs have been consistently raising their stake in the entity for the past five quarters, with their stake rising to 2.47 per cent as of June 2022 from a mere 0.67 per cent as of June 2021.

Mazagon Dock is a smallcap Miniratna category defence stock. The company is one of India’s leading defence public sector undertaking shipyard under the Ministry of Defence. The company’s facilities are situated in Mumbai and Nhava (under-development) and its prime operations are construction of warships and submarines.

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