Buy Mazagon Dock Shipbuilders, target price Rs 290: Yes Securities

Yes Securities has buy call on Mazagon Dock Shipbuilders with a target price of Rs 290. The current market price of Mazagon Dock Shipbuilders is Rs 270.35. Time period given by analyst is Intra Day when Mazagon Dock Shipbuilders Ltd. price can reach defined target.

Mazagon Dock Shipbuilders Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5455.71 Crore) operating in Defence sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1378.54 Crore, down -11.47 % from last quarter Total Income of Rs 1557.07 Crore and up 17.20 % from last year same quarter Total Income of Rs 1176.24 Crore. Company reported net profit after tax of Rs 230.54 Crore in latest quarter.


Investment Rationale
The stock has resumed uptrend after breaking out of a narrow consolidation phase and trendline resistance on good volumes. Technical indicator RSI turning upwards from the 60-level suggests extended upside in the stock.