MDL inks MoU to set up shipyard on India's east coast

Business Sep 24, 2025

Mazagon Dock Shipbuilders Limited (MDL) just signed an MoU with Guidance Tamil Nadu to explore building a "world-class" shipyard on the eastern coast.
The deal, inked on September 19, was announced at a government event in Gujarat.
The event was attended by Union Minister Sarbananda Sonowal, and the development was officially confirmed via a Ministry of Defence press release, as MDL looks to expand its reach in shipbuilding.

MDL's stock performance

MDL's stock is up 36% over the past year and nearly 31% so far in 2024, showing solid investor interest—even though there was a dip of about 12% in the last three months.
Shares closed at ₹2,939.90 just before this news went public.