Wed Nov 20 06:36:19 UTC 2024: **Mazagon Dock Shipbuilders Poised for ₹40-43 Billion Submarine Project Order**

MUMBAI, INDIA – Mazagon Dock Shipbuilders Limited (MDL), a leading Indian defence public sector undertaking (PSU), is reportedly on the verge of securing a mega contract valued between ₹40 billion and ₹43 billion. Sources suggest that MDL is the frontrunner to win the order for the P-75(I) submarine project, a Ministry of Defence initiative to build six advanced diesel-electric attack submarines.

MDL’s partnership with German firm ThyssenKrupp Marine Systems appears to have given it an edge over its competitor, L&T Defence, which partnered with a Spanish company. While the final contract hasn’t been officially awarded, industry sources indicate that the deal is likely to be finalized within the next six months. The Spanish partner reportedly fell behind in meeting the Request for Proposal (RFP) requirements, paving the way for MDL.

MDL’s stock closed at ₹3990 on Monday. While the company has not yet responded to queries, the potential contract has the potential to significantly impact its share price. The stock has seen considerable growth in recent years, achieving a life high of ₹5860 on July 5th before a correction. Even with this correction, the stock has still yielded impressive returns of 80% year-to-date and over 110% in the past year.

**Disclaimer:** *This news report is based on information from sources and should not be considered investment advice. Consult a financial advisor before making any investment decisions.*

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