The stock had declined 2.19% in the past three sessions to end at Rs 265.50 yesterday, from its recent closing high of Rs 271.45 recorded on 9 December 2021.

In the past one year, the stock has added 40.40% while the benchmark Sensex has added 25.38% during the same period.

In a regulatory filing made during market hours today, Mazagon Dock Shipbuilders said that the Basin Trials (BT) for the second ship of Project 15B, Y 12705 (Mormugao) has been successfully completed with all Naval Trial Teams on 14 December 2021.

Mazagon Dock Shipbuilders is one of India's defence public sector undertaking shipyard under the Ministry of Defence. The company's main activities are construction of warships and submarines with facilities situated at Mumbai and Nhava (under development). It has the capability to build warships, submarines, merchant ships upto 40,000 DWT since 1979.

As of 30 September 2021, the Government of India held 84.83% stake held in Mazagon Dock Shipbuilders.

The company's consolidated net profit jumped 35.87% to Rs 135.03 crore on a 42.79% surge in revenue from operations to Rs 1,570.11 crore in Q2 FY22 over Q2 FY21.