Mazagaon Dock Shipbuilder shares decline mopre than 3 per cent on NSE (National Stock Exchange), after stock traded pre-scheduled ex spilt on the Indian bourses.
The shares of Mazagaon Dock Shipbuilders went on to touch the day low level of Rs 2,292.20 per share on the Indian exchanges, after hitting the opening bell at Rs 2,375.00 per share on the NSE (National Stock Exchanges).
Mazagaon Dock shares concluded the last trading session at Rs 2,312.50 per share NSE (National Stock Exchange), declining 2.22 per cent amounting Rs 52.40 per share.
Stock spilt details
This occurs as the business prepares to split its stock at a ratio of 1:2. As a result of this stock split, each Mazagon Dock share that currently has a face value of Rs 10 will be split into two new shares, each worth Rs 5. Some trading applications may be displaying the unadjusted previous closing price, creating the appearance of a 50 per cent decline, according to additional media reports.
The stock opened at Rs 2,375 today, reflecting early excitement over the split, but the gains were fleeting. Investors purchased Mazagon Dock shares today in accordance with the T+1 settlement mechanism to guarantee that their names appeared on the list of eligible shareholders on the record date and that they would receive the split shares as a result.
Company financials
In comparison to Q2 FY 2024, when net sales were Rs 2,362.47 crore, the Indian shipyard recorded net sales of Rs 2,756.83 crore for Q2 FY 2025. At the same time, its net sales increased significantly year over year by about 51 per cent , from Rs 1,827.70 crore in Q2 FY 2024 to Rs 2,756.83 crore in Q2 FY 2025.
