New Delhi, April 3 -- Mazagon Dock Shipbuilders share price rallied over 4% on Thursday amid heavy volumes. Mazagon Dock shares gained as much as 4.29% to Rs.2,716 apiece on the BSE.

The Navratna defence PSU Mazagon Dock Shipbuilders announced the Keel Laying Ceremony of the first ship of a project on April 2. The company commenced the production activity for Multi-Purpose Vessel (MPV) - Yard 21001 for M/s Navi Merchants Denmark on 24 September 2024.

As per the contract signed between Mazagon Dock Shipbuilders and M/s Navi Merchant, the defence PSU will design, build and deliver Six Multi-Purpose Vessels. The contract price of each vessel is approximately $14 million.

"The overall length of vessel is 116.2m with dead weight 7500T. The ...