Mazagon Dock Shares Rise After Clarification on Major Defence Contract Negotiations

Mazagon Dock Shipbuilders' shares surged between 7.6% and 8.8% following the completion of key negotiations for a major defence contract with the Indian Navy, reportedly worth around Rs 99,000 crore. The company clarified that the proposal is awaiting approval from the competent authority. Additionally, Mazagon Dock signed a collaboration agreement with Swan Defence for Landing Platform Docks design and construction. The stock rally occurred amid broader market gains supported by improved global sentiment and sector-specific developments.