Technical alert: Defence stock GRSE, 2 other smallcaps - HEG and Ujjivan SFB witness formation of 'Golden Cross' on the daily charts. Here's why this is a bullish sign.
Cochin Shipyard, Garden Reach Shipbuilders, Mazagon Dock, Data Patterns, Paras Defence, Zen Tech, Bharat Dynamics, Hindustan Aeronautics rallied by up to 8% in trade on Friday.
Garden Reach Shipbuilders' profit more than doubled, or jumped 118.9 per cent year-on-year (Y-o-Y), to Rs 244 crore in Q4FY25, from Rs 112 crore in Q4FY24.
With a strong order book, production maturity of the ongoing projects and order visibility including in the commercial shipbuilding segment, GRSE is confident of even better performance during FY26.
In the previous trading session, Sensex jumped 2,975.43 points, or 3.7 per cent, to close at 82,429.90 levels. The Nifty50 closed at 24,924.7, up by 916.7 points, or 3.8 per cent.
After a period of being net buyers in the first half of the fiscal year, FIIs reversed their stance in the second half, unloading over ₹1.5 lakh crore worth of Indian equities
The rally in the Miniratna stock was fueled by the news that it had signed a contract with Carsten Rehder Schiffsmakler and Reederei GmbH & Co KG, Germany
The government will soon launch its second edition with a budgetary corpus of Rs 40,000 crore, with a special focus on shipbuilding, repair, and recycling.
All the 16 stocks in the Nifty India Defence Index were trading higher with Garden Reach and IdeaForge leading the pack
Analyst at Elara Capital believe defense companies in India stand to benefit as the EU defence OEM turn to public and private defence firms to procure components and subsystems.
The Nifty SmallCap index surged 2.70 per cent, or 410.7 points, to hit an intraday high of 15,579.15. Similarly, the Nifty MidCap index increased 1.72 per cent to an intraday high of 50,609.25
Elara Capital expects ordering flow to rise sharply in Q4FY25 for the sector given that defence capex is set to be met in FY25
The contracts for the remaining two vessels will be communicated as and when the respective contracts are signed
The Defence Acquisition Council (DAC) accorded Acceptance of Necessity for five capital acquisition proposals worth over Rs 21,772 crore.
The spike in GRSE share price was fuelled by a Rs 490.98-crore order win from Naval Physical & Oceanographic Laboratory, Gol, Ministry of Defence DRDO, Kochi
The rise in GRSE share price was fuelled by a Rs 491-crore order win from Naval Physical & Oceanographic Laboratory, Gol, Ministry of Defence, DRDO, Kochi
The uptick in Garden Reach shares came after the company announced that it has secured an order for four (4) multi-purpose vessels from Carsten Rehder Schiffsmakler and Reederei GmbH & Co.
The Defence Acquisition Council (DAC) is likely to discuss proposals of mega projects worth around Rs 1.2 trillion for approval in a meeting scheduled for today.
The MoU entails the construction and delivery of Class 70R Double-Lane Bridges
These stocks have corrected between 27 per cent and 38 per cent from their respective all-time high levels touched in July.