Mazagon Dock Shipbuilders shares jump 7.5% to touch new record | Raghav’s Value Investing

Mazagon Dock Shipbuilders shares jump 7.5% to touch new record high after receiving 'Navratna' status

Shares of Mazagon Dock Shipbuilders, a leading defence public-sector shipyard under the Ministry of Defence (MoD) in India, surged nearly 7.5% to reach an all-time high of ₹4,271 per share.
This jump followed the company's announcement via an exchange filing that the Department of Public Enterprises (DPE) has approved the proposal to grant Navratna status to Mazagon Dock Shipbuilders. This makes the company the 18th Navratna company among the public sector enterprises.

Navratna status is granted to public sector enterprises (PSEs) in India based on a combination of financial performance, operational efficiency, and autonomy. To qualify, a company must first be a Miniratna Category I PSE, demonstrating consistent profitability and meeting specific financial benchmarks.
Source : Mint