ICICI Securities: Mazagon Dock and Garden Reach Stocks Could Drop 77% and 73%

[{"selector":"#anim-0de6883a-f05d-4689-a62f-f8a1e0e72189","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] By : 5paisa 20 August 2024

[{"selector":"#anim-1d99cb72-427b-415e-b95e-6f850e384c5f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ae1011a6-d73d-4149-999a-32dfaf84fb34","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-253c68b4-f62e-457e-af54-1859aea8363e","keyframes":{"transform":["translate3d(0px, -381.99022%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-57c3beee-0612-4986-9543-2511d3bab503 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] ICICI Securities targets Mazagon Dock at ₹1,165, implying a 77% downside from current levels despite raising the target from ₹900. Check Share Price

[{"selector":"#anim-7479c4b5-aabf-40ee-b8dc-5f3e729269e4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-aa379168-d605-4acd-900f-6639b4a26128","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-93595554-d20b-4c33-871c-7bf6ae0490ff","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e754b188-9e58-4fab-9e66-22be8dafc165","keyframes":{"transform":["translate3d(0px, -368.25395%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Garden Reach Shipbuilders sees a ₹515 target, indicating a 73% potential drop from its current levels, says ICICI Securities. Check Share Price

[{"selector":"#anim-452eb45f-dc42-4eb3-90f7-35567296766b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2bd5f552-a5a7-415c-8f2a-8f0eec691c0b","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9489a34e-051b-4d07-adac-4ef7586742d4","keyframes":{"transform":["translate3d(0px, -422.36748%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-34d779b4-e741-4591-b114-69e5c8f41638 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Mazagon Dock and Garden Reach have already corrected 26% and 37%, respectively, from their record highs in July 2024.

[{"selector":"#anim-06e7202c-931a-47c3-ae1b-d0eff584f529","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd032d03-8499-4661-9cd9-df8b5b307c8e","keyframes":{"transform":["translate3d(0px, 765.93807%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a2b0cf5e-4f9b-4d1b-ba8a-4abdc1acd739","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-050b7d54-625c-46cc-a7c2-0920837cc7d7","keyframes":{"transform":["translate3d(0px, -571.63723%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fdcf8b44-557f-42bf-b4b6-db4802021fc6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Open Free Demat Account in just 5 Minutes! Start Investing Today Open Demat Account

[{"selector":"#anim-cd878162-8611-4afb-9d24-1dec2f8953bd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e78f1d5a-47cb-40a3-924e-ae759376b52c","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ac79f20e-c22e-4ac0-958f-da907295822e","keyframes":{"transform":["translate3d(0px, -432.17143%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-02d14d1b-8d51-43b9-a083-2791dea060af [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] ICICI Securities expects Mazagon Dock’s high margins to taper off post-2026 as new contracts roll out at lower profitability.

[{"selector":"#anim-c3118343-e6d2-4dbe-9e3c-3f9e42c50dda [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-3c7ddfa1-67ae-4795-9ccb-348d3730476b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7928abbb-24d9-43fb-acd8-91faa904cb61","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3b9697d5-3843-4755-bf07-739779c23d11","keyframes":{"transform":["translate3d(0px, -423.67469%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Mazagon Dock trades at a 60x P/E, far above global peers like Huntington Ingalls (14.2x), signaling overvaluation risks

[{"selector":"#anim-bfe01680-0b19-4285-b49b-46da3b503c54","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-90fb35a8-542c-4736-a0e6-db3097508a84","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d81e6403-d513-4b96-aafb-860603893a26","keyframes":{"opacity":[0,1]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f67551ac-1d45-484e-82d1-9482ded800f2","keyframes":{"transform":["translate3d(0px, -234.13951%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e9d5489e-dca3-443a-8c23-aa57515bd707 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e8ce885b-5679-4932-b424-fa84eba7f25d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2e972189-9a58-4b70-bdc8-4d7b2d422568","keyframes":{"transform":["translate3d(0px, -554.00514%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Investment/Trading in securities market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equities and Derivatives can be substantial. Disclaimer

[{"selector":"#anim-067e8bc8-b550-40ea-9333-67a6e32fe088","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-96f56e98-2521-4b2c-9b5c-c69275c9352f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9a5d3f49-95ea-4805-b0cb-091f40efad1b","keyframes":{"transform":["translate3d(-138.61788%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f371f22e-d0b8-4490-a05e-f11cc416fe36 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read Next Best US Stocks Under $5 More Web-Stories