Shares of Mazagon Dock Shipbuilders Ltd. gained as much as 5% on Thursday, December 26 but has since cooled off from the highs of the day.
Today is the last day to buy shares of the state-run defence company ahead of the record date for its stock split on Friday, December 27.
Mazagon Dock had fixed December 27 as the record date for its stock split, which it had announced earlier.
The company will split one share of ₹10 into two shares of ₹5 each. Those shareholders who have shares of the company as of today’s closing, will be eligible for the stock split.
Shares of Mazagon Dock have had a volatile 2024, despite having doubled in value so far during the year.
The stock, by August this year, had made a record high of ₹5,860 before correcting to a low of ₹3,851 within the next three months. Shares have since recovered from those lows.
Mazagon Dock is among those PSU names that have less free float in the market. 84.8% of the company is still held by the government at the end of the September quarter.
Shares of Mazagon Dock Shipbuilders are currently trading 2% higher at ₹4,724.8. The stock is still up 106% on a year-to-date basis.
Content retrieved from: https://www.cnbctv18.com/market/mazagon-dock-shipbuilders-share-price-stock-split-record-date-10-into-5-psu-govt-holding-returns-19529794.htm.
