Mazagon Dock has been hitting new highs since the past two days. Today too, from its previous close of Rs.278.35, it went on to hit a new high at Rs.309.20 and continues to trade at these higher levels.
The stock price has been reacting to the news of its delivery of the first ship of the Project 15B Class Destroyer Visakhapatnam to the Indian Navy on October 28.
She is likely to be commissioned in November and the Navy has invited Prime Minister Narendra Modi for this function.
The vessel is constructed using indigenous steel and is among the largest destroyers constructed in India with an overall length of 164 meters and a displacement of over 7,500 tonnes.
More versatile than the previous destroyers and frigates in the Naval inventory, the ship’s all-round capability against enemy submarines, surface warships, anti-ship missiles and fighter aircraft will enable it to operate without a bevvy of supporting vessels and also to function as the flagship of a Naval task force. The ship can accommodate a crew of 312 persons has an endurance of 400 nautical miles.