Mazagon Dock Shipbuilders Shares Jump After INS Mahendragiri's Launch

Shares of Mazagon Dock Shipbuilders Ltd. rose the most in two weeks after it launched the Indian Navy's warship, Mahendragiri, in Mumbai on Friday. Vice President Jagdeep Dhankhar was the chief guest at the launch ceremony. Named after a mountain peak in the Eastern Ghats of Odisha, this is the seventh ship of Project 17A frigates series and boasts enhanced stealth features, advanced weapons, sensors, and platform management systems, according to an official release. The stock rose as much as 4.59% to an intra-day high of Rs 1,933.90 apiece.