Mazgaon Dockyard Share Price: The stock has dipped over 6 per cent today as Sensex declined over 500 points to 75,785.82 in early trade. Similarly, Nifty slipped 146.05 points to 23,104.05.
Mazgaon Dockyard Share Price: Shares of Navratna PSU Mazagon Dock Shipbuilders, which specialises in the construction of wardships and submarines, fell over 6 per cent on Friday, i.e. April 4, 2024, after the government said that it plans to sell up to 4.83 per cent stake in the defence firm.
The stock has dipped over 6 per cent today as Sensex declined over 500 points to 75,785.82 in early trade. Similarly, Nifty slipped 146.05 points to 23,104.05.
The stock opened gap down at Rs 2,571.40 – with a loss of 6 per cent from the previous close of Rs 2735.45 on the BSE. The counter dipped further to touch the intraday low of Rs 2,550.90 – a fall of 184.55 or 6.75 per cent from the last trading price of the previous session.
The stock has fallen after two days of consecutive gain. On technical parameters, it is trading higher than 20-day, 50-day, 100-day and 200-day moving averages but lower than 5-day moving averages.
Mazgaon Dockyard Share Price: What did the government say?
The fall in the stock comes after the government said that it will sell up to 4.83 per cent stake in defence PSU at a floor price of Rs 2,525 per share.
“Offer for Sale in Mazagon Dock Shipbuilders Limited (MDL) opens tomorrow for Non-Retail investors. Retail investors can bid on Monday. The government will divest 2.83 per cent equity with an additional 2 per cent as a green shoe option,” DIPAM Secretary Arunish Chawla said in a post on X.
The government is selling 1.14 crore equity shares, with a greenshoe option to sell an additional 80.67 lakh shares.
The share sale of up to 4.83 per cent at a floor price of Rs 2,525 a piece would fetch about Rs 5,000 crore to the exchequer.
Shares of Mazagon Dock closed at Rs 2,735.45, up 5.05 per cent over the previous close on the BSE.
Mazgaon Dockyard Share Price: OFS Opens Today
The Offer for Sale (OFS) will open for institutional investors on Friday, i.e. on April 4, 2025. Retail buyers can put in bids on April 7.
