Shares of Mazagon Dock Shipbuilders shares hit a 52-week high of Rs 2,484.70 during the trading session on 8 September after the company signed a master ship repair agreement with the US Government that was represented by NAVSUP Fleet Logistics Center Yokosuka.

This agreement is non-financial and only two shipyards in India, including the company that has signed a master ship repair agreement.

The company expected to open up voyage repairs of US Navy Ships at Mazagon Dock through this agreement.

The company reported a strong quarterly report for the April-June quarter with a 40% YoY increase in consolidated net profit at Rs 314.34 crore. However, the company saw a 3% YoY decline in revenue from operations at Rs 2,172.76 crore, and on the operating front, the EBITDA was down by 1% at Rs 171.69 crore.

The shares have gained over 25% in the last 5 trading sessions.

At 11:22 am, the shares of the Mazagon Dock were trading at Rs 2,353 or 12.70% above its previous close on NSE.