PSU NEWS
Mazagon Dock Shipbuilders bags order from Ongc worth Rs 1486 crore
The public sector company also said that the size of the order is Rs 1486.4 crore (including GST at 12%). The order will be completed by February 28, 2026.
Shares of Mazagon Dock Shipbuilders Ltd surged over 3% to trade after the company announced securing a contract from Oil and Natural Gas Corporation Limited (ONGC) for a pipeline replacement project.
Mazagon Dock informed the exchanges, in a filing, that it has been awarded a contract from ONGC for a subsea pipeline replacement project (Pipeline Replacement Project 8 Group A).
The company said that the project has been awarded on an Engineering Procurement and Construction (EPC) reimbursable basis. The public sector company also said that the size of the order is Rs 1486.4 crore (including GST at 12%). The order will be completed by February 28, 2026.
The shares of the shipbuilding psu has been trading at Rs 4336 per share piece.
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