Mazagon Dock Shipbuilders Ltd. (MDL) confirmed the completion of CNC negotiations with the Government regarding a significant defence deal, previously hinted at in media reports suggesting a potential value of Rs 99,000 crore. The proposal has now been forwarded to the competent authority for final approval. The company stated it is not aware of any other unannounced information that could explain recent stock movement, and no material developments outside this update have occurred as of March 5, 2026.
MDL Response to Media Reports on Defence Deal
In response to queries raised following news reports published on March 5, 2026, concerning a potential Rs 99,000 crore defence deal that allegedly caused a 6% rise in Mazagon Dock Shipbuilders Limited (MDL) shares, the company has issued a formal clarification.
Status of Negotiations
MDL confirmed that the negotiations, referred to as CNC negotiations, between the Government and Mazagon Dock Shipbuilders Limited are officially completed. This update builds upon previous disclosures made on August 25, 2025, September 10, 2025, and January 9, 2026. The proposal stemming from these completed discussions has now been submitted for the final approval of the competent authority.
Market Information and Compliance
When questioned about any non-disclosed information that might account for the trading movement, the Company stated a definitive “No.” Furthermore, regarding regulatory or legal proceedings, the status was reported as “Not applicable.” MDL confirmed that, other than the update provided regarding the defence contract proposal submission, the Company is not aware of any other material developments referenced in the news report.
Source: BSE
