GRSE gains 4% on winning order for construction of 4 multi-purpose vessels

Garden Reach Shipbuilders & Engineers shares gained 3.9 per cent on Friday and logged an intraday high of Rs 1,828.8 per share. The buying in the stock came after the company bagged an order for construction and delivery of an additional 4 multi-purpose vessels of 7,500 DWT.

 

Around 1:07 PM, Garden Reach share price was up 2.3 per cent at Rs 1800.05 per share. In comparison, the BSE Sensex was up 0.02 per cent at 81,779.02. The market capitalisation of the company stood at Rs 20,619.93 crore. The 52-week high of the stock stood at Rs 2,834.6 per share and 52-week low of the stock stood at Rs 674.25 per share.

 

"GRSE bagged order for construction and delivery of additional four (04) Multi-Purpose Vessels of 7,500 DWT each," the filing read. 

 

The company signed a contract for the construction and delivery of a second ship from a series of four additional vessels 7500 DWT multi-purpose vessels (MPV) on December 4, 2024, in Hamburg, Germany.

 

The contracts for the remaining two vessels will be communicated as and when the respective contracts are signed.

 

Garden Reach Shipbuilders & Engineers Ltd. (GRSE), founded in 1884 and based in Kolkata, India, is one of the country's premier shipbuilding companies. Operating under the Ministry of Defence, GRSE specialises in the design and construction of both defense and commercial vessels. It has a rich legacy of building advanced naval ships for the Indian Navy, including frigates, corvettes, and landing ships. 

 

GRSE is also involved in the construction of commercial vessels such as bulk carriers and oil tankers. The company boasts modern infrastructure and cutting-edge technologies for shipbuilding, contributing to India’s maritime defense. GRSE’s expertise spans various sectors, from ship repair and maintenance to the production of offshore products, and it has expanded its footprint internationally with exports to several countries.

 

In the past one year, Garden Reach Shipbuilders shares have gained 112  per cent against Sensex's rise of 17 per cent.