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Mazagon Dock Shipbuilders Ltd.’s shares surged by 9.53 per cent hitting an all-time high.
Vaibhav Kaushik, Research Analyst, GCL Broking, notes that while the stock is currently trading at an all-time high, there are indications of overbought conditions from a technical standpoint. However, he emphasises that there is still room for comfort in terms of valuation. Kaushik highlights Mazagon Dock’s impressive order book visibility of over five years and suggests that the inflow of orders could potentially increase further.
He advises investors to consider buying on dips, particularly around levels of 1700 to 1800, with a recommended stop loss set at 1620. The target price (TGT) is set at 2400.
The shares were up by 9.53 per cent at 3.11 pm on the BSE.
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