Mazagon Dock will get new order of Rs 1990 crore from Protection Ministry, inventory offers 98% return in 2024 – INA NEWS

Mazagon Dock Share: Mazagon Dock has obtained a brand new order from the Protection Ministry price about ₹1990 crore. This contract is for the development and integration of Air Unbiased Propulsion (AIP) plug for DRDO. This info was given in a press release of the Protection Ministry on December 30. The shares of the corporate have fallen by 1.84 % immediately on December 30. This inventory closed at Rs 2266.25 on BSE. The market cap of the corporate is Rs 91,415 crore. The inventory’s 52-week excessive is Rs 2,929.98 and 52-week low is Rs 898.55. This inventory has given a powerful return of 98 % in 2024.

Order associated particulars

The venture includes development and integration of AIP plugs, which can improve the endurance of standard submarines and contribute to the ‘Atmanirbhar Bharat’ initiative. Mazagon Dock mentioned that these AIP techniques might be retrofitted into Scorpene submarines. Additionally, the Navy is eager to include the AIP system in the course of the first refit of the primary submarine, which is predicted to happen in 2025.

Air Unbiased Propulsion (AIP) acts as a drive multiplier for diesel-electric submarines, because it will increase the submarine’s underwater operation functionality (submerged endurance) many occasions over.

AIP expertise allows submarines to function underwater with out having to floor, i.e. with out receiving oxygen. Resulting from this, many non-nuclear ships can now function with out utilizing atmospheric oxygen. DRDO has developed this expertise in collaboration with business companions L&T and Thermax.

Within the assertion issued by the federal government, it has been mentioned that this contract will generate employment of about three lakh man-days. Together with this, the federal government has additionally signed a contract price ₹877 crore with France’s Naval Group. The contract is to combine Digital Heavy Weight Torpedo (EHWT) into Kalvari-class submarines, which can improve their fireplace energy functionality. Each the contracts had been signed in New Delhi within the presence of Protection Secretary Rajesh Kumar Singh.

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