Listing of Mazagon Dock - Angel Broking

Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd

"Currently Mazagon Dock is trading above the upper price band which is around Rs192 (32% premium). We are recommending booking the profit mainly due to the PSU company ( involved project execution risk due project delay). Considering the current market scenario, we expect volatility in the market. Hence any correction in stock can be a good buying opportunity for long term investors. Going ahead, Defence sector's outlook is positive mainly due to government initiative like the government has taken steps to ban 101 defence items, which clearly indicates government's focus on indigenization to promote and create big opportunities in Indian defence sector. Going ahead, it would be beneficial for companies like MDSL. However, any correction in future would create buying opportunities in stock."

Source : Equity Bulls

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