Shares of Mazagon Dock Shipbuilders Ltd rose 2% to hit a day’s high of Rs 2,977.30 on 24th July, after the company announced it had signed a formal agreement with international defence manufacturer Naval Group for the transfer of technology to install indigenous energy system plugs on the Indian Navy’s Kalvari-class submarines.

Under the deal, Mazagon Dock will use Naval Group’s Scorpene-class technology to integrate the DRDO-developed plugs into the submarines.

This process, called “Jumboisation,” involves cutting the submarine’s hull, inserting the energy plug, and rejoining the structure with high precision. Naval Group, as the original equipment maker, will provide technical support, materials, and training to Mazagon Dock engineers.

“We’re happy to strengthen our partnership with Naval Group and will work together to integrate the DRDO propulsion system into the P75 Scorpene submarines,” said SB Jamgaonkar, Director of the Submarine Division at MDL.

In December 2024, the Defence Ministry signed two contracts worth Rs 2,867 crore to upgrade submarine capabilities. One was a Rs 1,990 crore deal with Mazagon Dock to build the AIP plug, and the other, worth Rs 877 crore, was with Naval Group to integrate a DRDO-developed heavy torpedo system.

At 1:12 PM, the shares of Mazagon Dock were trading 1.12% higher at Rs 2,952 on NSE.

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