Mazagon Dock Shipbuilders shares: Nirmal Bang cuts target price on defence PSU stock; here’s why
Even as defence PSU Mazagon Dock Shipbuilders Ltd reported a 76 per cent surge in September quarter profit, Nirmal Bang Institutional Equities has cut its target price on the stock to Rs 4,106 from Rs 4,315. The brokerage said it has factored in a higher numbers than the management guidance, but the stock has run up, and it sees only a limited upside from here.
Adjusted PAT grew 75.8 per cent YoY on lower interest expense (down 14 epr cent YoY) and slightly better…
