Garden Reach Shipbuilders & Engineers is a defence public sector undertaking, under the administrative control of Ministry of Defence.
Defence stocks to buy: Muthuselvaraj of Mirae Asset Sharekhan explains that Paras Defence is showing an uptrend, trading with higher top, higher bottom pattern after breaking from consolidation zone.
Since April, the Nifty India Defence index has zoomed 33 per cent, as against 8 per cent rally in the Nifty 50.
At 12:24 PM on Wednesday, the Nifty India Defence index was the top gainer among thematic indices up 2.8 per cent as against a 0.3 per cent rise in the Nifty 50.
Pabitro Mukherjee of Bajaj Broking believes that Ashok Leyland, Bharat Electronics and Garden Reach Shipbuilders recently saw sideways consolidation and now offer a favourable risk-reward profile.
Garden Reach share price today: Garden Reach has recommended a final dividend of ₹6.70 per equity share for the financial year 2025-26 in Q4 results.
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Among the defence stocks, Paras Defence, Bharat Dynamics, Apollo Micro Systems, BEML, Midhani, Bharat Electronics and Astra Microwave gained between 8% and 10% in Wednesday's intra-day trade.
The Indian equity market was trading sharply higher, driven by hopes of de-escalation in the war between US-Israel and Iran
Cochin Shipyard, GRSE, BDL, BEML, Paras Defence, Mazagon Dock Shipbuilders and Unimech Aerospace have plunged between 40% and 51% from their respective 52-week highs.
The recent up move in Nifty Defence reflects renewed buying after a long phase of consolidation, says Om Mehra, technical analyst at SAMCO Securities. The analyst is bullish on BEL, BDL and GRSE.
In the past one month, the Nifty India Defence index has rallied 11 per cent, as against 4 per cent fall in the Nifty 50.
Garden Reach shares: The partnership aims to collaborate on a wide range of maritime and defence systems, including ship propulsion and mechanical systems for naval and commercial vessels
Mazagon Dock Shipbuilders has officially confirmed that Contract Negotiation Committee negotiations for P-75 (India) project between the company and the government have been completed.
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At 01:58 PM on Thursday, the Nifty CPSE index was the the top gainer among sectoral and thematic indices, up 2.8 per cent, as compared to 0.4 per cent rise in the Nifty 50.
At 09:22 AM on Monday, the Nifty Defence index rose 1.1 per cent, as compared to 1 per cent decline in the Nifty 50 amid rising US-Iran tensions.
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Thus far in the month of February, the Nifty India Defence index slipped 5.5 per cent, as against 1.3 per cent rise in the Nifty 50.
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