Mazagon Dock Shipbuilders shares rose nearly 2 percent in Friday's trading session, snapping a six-session losing streak, after the company's Director Finance Ruchir Agrawal outlined the company's investment plans and highlighted upcoming defence opportunities. The stock was trading at around Rs 2,251.90 per share, up 1.9 percent during the session.

Agrawal said Mazagon Dock is considering an investment of up to Rs 15,000 crore in a proposed shipyard in Maharashtra. The company is targeting returns of around 15 to 17 percent from the proposed investment and expects a binding agreement to be signed soon.

The company is also expecting the Project 75I submarine order during the current financial year. Mazagon Dock has been associated with the Project 75I programme, which envisages the construction of six conventional submarines equipped with air independent propulsion technology. The company has also indicated that it will participate in the Indian Navy's 75 Bravo request for proposal.

The potential submarine orders could support Mazagon Dock's order pipeline. The company is already involved in multiple submarine and naval programmes, while its official procurement records show ongoing activity related to the P75 and P75I projects.

Separately, Mazagon Dock recently signed a memorandum of understanding with National Shipbuilding and Heavy Industries Park Maharashtra to participate as the anchor shipyard in the proposed Greenfield Shipbuilding Industrial Cluster at Dighi in Maharashtra. The proposed facility is planned with an annual shipbuilding capacity of at least 1.2 million gross tonnes and is intended to expand the company's capabilities into large commercial shipbuilding.

The combination of potential submarine orders and planned shipbuilding capacity expansion has brought renewed attention to the company's growth pipeline. However, the Project 75I order and other future opportunities remain subject to the relevant procurement and contracting processes.