Based on the June quarter shareholding data available on the Bombay Stock Exchange (BSE), LIC now owns a 3.27% stake in Mazagon Dock. LIC’s name does not feature in the company’s March shareholding pattern, which either means that it did not own any stake, or it was less than 1%.
The government recently diluted 3.6% stake in the company, which has resulted in its shareholding declining to 81.2% from 84.8% earlier. This is still 6.2% higher than the Minimum Public Shareholding norms figure of 75%.
Mutual Funds continue to own 1.34% stake in the stock, which has just seen a marginal increase in free float.
The retail shareholding has also remained constant at 9.34%, though the number of retail shareholders has gone up from 6.58 lakh to 7 lakh. Retail shareholders are those whose authorised share capital is up to ₹2 lakh. Retail shareholders had mainly stayed away from the Mazagon Dock Offer for Sale (OFS), where the government had sold stake.
Shareholding of foreign portfolio investors has also seen a marginal increase to 2.49% from 2.26% earlier.
Shares of Mazagon Dock Shipbuilders have been among the defence names that had seen a very sharp run-up during the April-June period. The stock gained 23% during that quarter, having made a new record high of ₹3,775, before cooling off from those levels.
Shares of Mazagon Dock Shipbuilders ended 2.2% lower last Friday at ₹2,979.7. The stock is now down 21% from its record high levels, having declined 11% in the last one month.
