MUMBAI — For six sessions Mazagon Dock closed inside a band of ₹47, which on a ₹2,500 stock is less than two percent. On Tuesday morning the bottom of that band gave way, and the volume that had drained out of the stock came back.
The warship and submarine builder was quoted at ₹2,529.60 on the National Stock Exchange at 11:49 IST, down ₹10.40 or 0.41 percent on Monday’s close, and at ₹2,528.50 on the BSE. It opened at ₹2,539.90, ran to ₹2,574.70 and then reversed all the way to ₹2,520.00, the lowest the stock has traded in the seven-session stretch. Turnover of 3.42 lakh shares in 154 minutes extrapolates to roughly 8.3 lakh for the full day, against 3.75 lakh on Monday. These are live intraday figures from a session that settles at 15:30.
That is a stock that has stopped being still. The intraday range so far is ₹54.70, wider than Monday’s entire session, and it has been made in both directions: a higher high than Monday and a lower low.
Mazagon Dock Share Price Today: NSE and BSE Live Quote, August 25, 2026
| Measure | NSE · MAZDOCK | BSE · 543237 |
|---|---|---|
| Last traded price | ₹2,529.60 | ₹2,528.50 |
| Previous close (August 24) | ₹2,540.00 | ₹2,538.00 |
| Change so far | -₹10.40 (-0.41%) | -0.37% |
| Open | ₹2,539.90 | – |
| Session high so far | ₹2,574.70 | – |
| Session low so far | ₹2,520.00 | – |
| Volume so far | 3.42 lakh shares | – |
| Monday’s full-day volume, for comparison | 3.75 lakh shares | |
| 52-week high | ₹3,061.40 (17.37% above the current price) | |
| 52-week low | ₹2,057.40 (+22.95% from the current price) | |
| Market capitalisation | ₹1,02,438 crore, at Monday’s close | |
| Trailing P/E · Price to book | 35.8 · 10.5 | |
| Return on capital employed · Return on equity | 36.0% · 29.2% | |
| Live intraday figures captured at 11:49 IST on August 25, 2026, about 154 minutes into a session that runs to 15:30. These are last traded prices, not closing prices, and they will change. Open, high and low for the BSE line were not captured in this run, so those cells are left blank. Valuation ratios and market capitalisation are Screener’s, struck at Monday’s close. | ||
Those last two rows remain the ones to sit with. A return on capital employed of 36 percent and a return on equity of 29.2 percent are the best figures in Indian defence, ahead of Bharat Electronics at 27.4 percent and comfortably ahead of Hindustan Aeronautics at 24 percent. Mazagon also carries the second-lowest earnings multiple of the group. The market is paying less for the best operator in the sector, and it has a reason.
The Order Book Is Shrinking Because the Yard Is Working
| Measure | June 30, 2026 | March 31, 2026 | Change |
|---|---|---|---|
| Order book | ₹18,218 crore | ₹20,535 crore | -11.3% |
| Reduction over the quarter | ₹2,317 crore of net conversion, with no contract lost | ||
| Return on capital employed | 36.0%, the highest in Indian defence | ||
| Return on equity | 29.2%, also the highest in the sector | ||
| Order book figures as disclosed by the company for the quarters ended June 30 and March 31, 2026. The percentage change is calculated by The Eastern Herald. Returns are Screener’s trailing consolidated figures. Mazagon did not lose a contract during the quarter; the book fell because deliveries outran replacements. | |||
That is the whole tension in one table. A book falling 11 percent in three months is normally a warning. Here it is a measure of throughput: the yard delivered ₹2,317 crore of work and did not sign enough new work to replace it. Excellent execution and a shrinking pipeline are, at Mazagon, the same sentence.
Mazagon Dock Stock Code on NSE, BSE and Global Data Feeds
| Exchange or provider | Code | Notes |
|---|---|---|
| NSE (National Stock Exchange) | MAZDOCK | Series EQ |
| BSE (Bombay Stock Exchange) | 543237 | Scrip code |
| ISIN | INE249Z01020 | Depository identifier. Face value ₹5 |
| Google Finance | NSE:MAZDOCK · BOM:543237 | The exchange-prefixed format Google requires |
| Yahoo Finance | MAZDOCK.NS · MAZDOCK.BO | Suffix marks the exchange |
| Founded in 1934 and headquartered in Mumbai, Mazagon Dock builds warships and submarines for the Indian Navy and is majority-owned by the Government of India. | ||
The Contract That Would Settle It Has No Date
The replenishment everyone is waiting for is Project 75I, the next-generation submarine line. Industry expectations put the cumulative contract value of the proposed submarine work above ₹1 lakh crore, which would multiply the current book several times over and settle the question for a decade. It has not been signed.
That is the pattern running through every large Indian defence stock this month, and it is worth stating once plainly. Bharat Electronics is waiting on a Cabinet signature for an air defence order. Hindustan Aeronautics is waiting on engines from an American supplier. Mazagon is waiting on a submarine programme. The businesses are sound, the demand is real, and in each case the thing that decides the next leg is a decision with no published date attached. Mazagon simply has the least time to wait, because its book is the one actively running down.
Mazagon Dock Share Price: The Range and Its Edges
| Date | Close (₹) | Change | Volume |
|---|---|---|---|
| August 17, 2026 | 2,569.70 | -0.40% | 5.96 lakh |
| August 18, 2026 | 2,587.00 | +0.67% | 12.30 lakh |
| August 19, 2026 | 2,563.80 | -0.90% | 5.13 lakh |
| August 20, 2026 | 2,570.00 | +0.24% | 4.68 lakh |
| August 21, 2026 | 2,552.00 | -0.70% | 4.87 lakh |
| August 24, 2026 | 2,540.00 | -0.47% | 3.75 lakh |
| August 25, 2026, at 11:49 IST | 2,529.60 | -0.41% | 3.42 lakh so far |
| NSE closing prices and volumes; the final row is live intraday and not a close. Volume drained from 12.30 lakh shares on August 18 to 3.75 lakh on Monday. Tuesday’s morning figure of 3.42 lakh in 154 minutes extrapolates to about 8.3 lakh for the full session, which would be the second heaviest day of the stretch. | |||
Five consecutive lower closes now, from ₹2,587.00 on August 18 to ₹2,529.60, a slide of 2.2 percent that has been small enough each day to look like nothing. Tuesday’s ₹2,520.00 is the first print below ₹2,522, and the volume arriving with it is the first sign in a week that somebody has changed their mind rather than simply stopped paying attention.
Above, ₹2,574.70 is Tuesday’s high and ₹2,587.00 the top of the whole range. The 52-week high of ₹3,061.40 is 17.4 percent further on.
What this piece cannot tell you is when Project 75I moves, or whether the ₹1 lakh crore figure attached to it survives contact with a signed contract. That number comes from industry expectation, not from a tender document Mazagon has disclosed, and defence procurement in India has a long record of arriving later and smaller than the first estimate. The order book, meanwhile, keeps converting at roughly 11 percent a quarter, which is the good news and the clock at the same time.
Elsewhere in Tuesday’s session, Bharat Dynamics was the only defence name higher, on the heaviest relative turnover in the group, and Hindustan Zinc was the market’s steepest faller. The Nifty 50 was down 0.32 percent.
Order-book figures are drawn from the company’s disclosures for the quarter ended June 30, 2026. Intraday prices and the scrip identifiers were checked against the exchange’s own quote page for scrip 543237.
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