Shares of Mazagon Dock Shipbuilders Ltd were trading in the green and almost 5% higher on 21 December after the company announced signing a contract with the Ministry of Defence to construct six vessels for the Indian Coast Guards.

In its regulatory filing, the company said that it has signed a contract with the acquisition wing of the Ministry of Defence to construct and deliver six Next-Generation Offshore Patrol Vessels (NGOPVs).

The company has to deliver the first vessel in 41 months from the date of release of advance payment from the defence ministry and the remaining vessels at an interval of five months.

On 15 December, the company signed a $42 million deal with a European client for the construction of individual shipbuilding contracts for three units of 7,500 DWT multi-purpose hybrid-powered vessels.

On 10 December, the company received an order from the ONGC for that Part Replacement of Pipeline Project for a total consideration of Rs 1,145 crore. The project is for installing around 44.4 kilometres of subsea pipelines divided into 19 segments.

At 12:20 pm, the shares of Mazagon Dock Shipbuilders were trading 3.54% higher at Rs 2,118.65 on NSE.