Multibagger Stock: Mazagon Dock Shipbuilders Ltd is one of the government companies which have given excellent returns in the last one year. But now there is a bad news for the positional investors of the company. Brokerage firm ICICI Securities says that the price of the company’s shares will come below Rs 1000. Let us tell you, on Friday, the price of the company’s shares in BSE had closed at Rs 3183.10 after a decline of 3.31% at the time of market closing.
Q4 results disappointed, there was a rush to sell the company’s shares, price fell by 5%
What are the experts saying?
According to the report of CNBC18, brokerage firm ICICI Securities believes that Manjhagaon Dock Shipbuilders Limited should sell these shares to positional investors. The brokerage firm has set a target price of Rs 900. Which is 73 percent less than Friday’s closing. Let us tell you, ICICI Securities had earlier set a target price of Rs 880.
The success of these public sector banks under Modi government, investors’ money doubled
Strong quarterly results
ICICI Securities’ report has come at a time when the company’s quarterly results have been excellent. The revenue of Mazgaon Dock has increased by 50 percent on an annual basis. The company’s revenue during January to March 2024 has been Rs 3103.60 crore. Whereas the net profit during this period has been Rs 663 crore. Let us tell you, the total stake of the government in the company is 84.80 percent. Public stake in the company is 12.12 percent.
Has been dominant in the stock market in the last one year
During the last one year, the share prices of Mazagon Shipbuilders Limited have seen a rise of 294 percent. At the same time, in the last 6 months the stock has given a return of 58.20 percent to positional investors. The good thing from the investors’ point of view is that the company’s share prices have gained 35.60 percent.
