Mazagon Dock surges by 7% as unit considers stock split, dividend on October 22
The company has fixed October 30 as the ‘Record Date’ for payment of Interim Dividend on Equity Shares for the Financial Year 2024- 25, if declared by the Board.
The Shares of shipbuilding company Mazagon Dock Shipbuilders soared up to 7.11 percent to hit an intraday high of Rs 4,542 per share on Friday, October 18, 2024.
The ascent in the share price came amid the company's announcement that the board of directors will meet on October 22 to consider a stock split and declaration of interim dividend for the financial year 2024-25.
In an exchange filing, the company said, “We hereby intimate the Stock Exchanges that a meeting of the Board of Directors of Mazagon Dock Shipbuilders Limited is scheduled on Tuesday, 22 October 2024, inter alia, to consider Declaration of Interim Dividend for the financial year 2024-25 and Sub-division/ Split of Equity Shares of the company pursuant to the provisions of section 61(1)(d) of the Companies Act, 2013.”
Read Also : SJVN bags two awards for HR ExcellenceFurthermore, the company has fixed October 30 as the ‘Record Date’ for payment of Interim Dividend on Equity Shares for the Financial Year 2024- 25, if declared by the Board.
The infrastructure capability is simultaneously handling 11 submarines and 10 warships, where the PSU company has established a dedicated "Make in India" Department to focus on indigenization. Approximately 75 percent of the company's content is dedicated to warship construction, leveraging indigenous materials to significantly cut costs.
The market capitalization of Mazagon Dock Shipbuilders is Rs 91,184.05 crore, according to the Bombay Stock Exchange (BSE). The company falls under the BSE500 category.
Read Also : Garden Reach pacts Rs 491 crore deal with NPOL for acoustic research shipNews Must Read
- RBI Lifts Restrictions on JM Financial Products on Financing Against Shares, Debentures
- BEML Ltd & PFC Ltd signs landmark MoU to bolster collaboration in Rail Infrastructure & Defence Sectors
- Priyadarshini Gaddam selected for NMDC New Director (Personnel)
- BPCL Mumbai Refinery Inaugurates Commercial Use of Indigenous FCC Bottoms Cracking Additive 'BHARAT BCA'
- PM Modi to Inaugurate India's Widest Rail-Cum-Road Bridge in Varanasi on October 20
- 44 Bids Received under 10th Round of Commercial Coal Mine Auctions
- PESB selects Ruchir Agrawal for SJVN New Director (Finance)
- India extends its first-ever rupee-denominated Line of Credit under IDEAS
- Three Pilot projects in Steel Sector launched under the National Green Hydrogen Mission
- RBI takes strict action against four NBFCs