Popular defensive stocks are on the rise again

Business Business: The share prices of Mazagon Dock Shipbuilders Limited are rising again. The price of these defense sector stocks opened at Rs 4,474.30 on BSE today. The company’s shares managed to touch a high of Rs 4,763 intraday. In just two trading days, the share price of this company rose by 13.40 percent. Let us know what is the real reason behind the increase in Mazagon Dock stock price. The Defense Acquisition Council approved the proposal of Rs 1.4 crore. Due to this, the share prices of this company rose sharply.

Brokerage Antique Stock seems excited by the performance of the stock of this defense company. The defense contractor plans to make seven deliveries in the next two years. This PSU stock has works worth Rs 40,000 crore by August 14, 2024.

According to a Business Today report, expert A.R. Ramachandran expressed hope for the effectiveness of these works. Experts say that if the company’s shares manage to go above Rs 4,800, then the company’s shares can reach the level of Rs 5,500. Let us tell you that the share prices of Mazagon Dock Shipbuilders Limited have increased by more than 100 percent in 2024.
The company’s share prices have fallen by more than 6 percent in the last one month. Brokerage firm ICICI Securities cut its target price for the stock last month.