Shares of Mazagon Dock Shipbuilders (MDL) rose 8 per cent to hit a 52-week high of Rs 2,246.95 in early trade on September 8 after the company signed the Master Ship Repair Agreement (MSRA) with the US government.
MOUs and Agreement
The country's leading ship and submarine maker Mazagon Dock Shipbuilders has signed Master Ship Repair Agreement with the US Government. The Mumbai-based company has inked a deal with NAVSUP Fleet Logistics Center Yokosuka, an entity of the US Government.The agreement comes a day ahead of US President Joe Biden's visit to India for the G20 Summit and bilateral meet with Prime Minister Narendra Modi on Friday.The agreement between the two entities is a non-financial agreement. There are only two shipyards in the country including MDL who have signed MSRA.
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