Garden Reach Shipbuilders soars 13%, hits new high on strong outlook

A strong order book for construction of 16 warships concurrently for Indian Armed Forces at this juncture holds exciting times ahead for the GRSE, the company said

Shares of Garden Reach Shipbuilders & Engineers (GRSE) moved higher by 13 per cent, hitting a record high of Rs 344.15 on the BSE in Wednesday's intra-day trade on the back of healthy business outlook. The stock of the state-owned company, engaged in producing defence platforms, surpassed its previous high of Rs 332.85 touched on April 22, 2022.

At 03:06 pm, GRSE was trading 12 per cent higher at Rs 342, as compared to 0.29 per cent decline in the S&P BSE Sensex. The average trading volumes on the counter more-than-doubled, with a combined 3.1 million equity shares having