MUMBAI, Aug. 24 -- Mazagon Dock is the best manufacturer in Indian defence and it is running out of things to build. Those two facts sit side by side in the same set of accounts, and the second one is why the shares have gone nowhere for a fortnight while the company posts the highest returns in its sector.

The warship and submarine builder closed Monday, August 24, 2026, at Rs.2,540 on the National Stock Exchange, down Rs.12 or 0.47 percent. On the BSE it settled at Rs.2,538. Turnover was 3.75 lakh shares, the thinnest of any session this month, on a day the Nifty 50 slipped 0.14 percent. The stock has now closed between Rs.2,540 and Rs.2,587 on each of the last six trading days, a range of less than two percent, which for a company who...