Indian shipbuilding company, Mazagon Dock Shipbuilders, has seen a surge in its stock value, rising as much as 286% in the past year. The surge has continued with the stock rising 37% in the past month. The company has strong order backlog of INR 38,754 crore as of March 2023 and is expected to benefit from upcoming bids from the Indian Ministry of Defence, helping to improve the order book and revenue visibility of the company. Investors are advised to invest in the stock in the Rs. 1009-1050 band with a base target price of Rs. 1,131.