GRSE share gain: Defense sector company- Garden Reach Shipbuilders & Engineers Ltd (NSE: GRSE) share rose sharply on Friday. On the week’s last trading day, the stock rose 4.18% in 5 days and reached the upper circuit of Rs 1,828.8 per share.
Buying came in the stock after the company received an order to construct and deliver an additional 4 multi-purpose ships of 7,500 DWT.
It has a 52-week high which is 2,834.6 rupees per share. It also has a 52-week low of 674.25 rupees for each share.
Garden Reach Shipbuilders & Engineers Ltd announced that on December 4 2024 in Hamburg, Germany, they signed a contract for the building and the delivery of the 2nd vessel in a fleet comprising four more 7500 DWT multi-purpose vessels (MPV). Contracts for the two remaining ships will be made public once the contracts are completed.
Information About The Business
Garden Reach Shipbuilders and Engineers Limited (GRSE), established in 1884, is one of the country’s leading shipbuilding companies.
Operating under the Ministry of Defence, GRSE specializes in the design and construction of both defense and commercial ships. Shares of Garden Reach Shipbuilders have gained 109.69% in the last year as against the Sensex’s 17 percent rise.
GRSE Handed Over ‘Jaldoot’ To NSTL
In the last few days, Garden Reach Shipbuilders and Engineers in Visakhapatnam, Andhra Pradesh, have handed over informally their Jaldoot Unmanned Surface Vessel (USV) to the Naval Science and Technological Laboratory (NSTL).
According to the company’s statement, Jaldoot, to be delivered on October 28, 2024, has completed acceptance tests from October 17-21.
The unmanned surface vessel has been jointly designed and developed by GRSE and NSTL, Defence Research and Development Organisation (DRDO) for survey and communication missions.
Quick Fact
| Company name | Garden Reach Shipbuilders and Engineers (GRSE) |
|---|---|
| Established year | 1884 |
| Industry | Shipbuilding |
| Operates under | Ministry of Defence |
| Specialization | Defense and commercial ships |
| Recent order | 4 multi-purpose ships (7,500 DWT) |
| New contract | Signed on Dec 4, 2024, in Hamburg for the 2nd vessel of 4 multi-purpose vessels |
| Ship handover | Jaldoot USV to NSTL, Andhra Pradesh |
| Jaldoot design partner | NSTL and DRDO |
| Jaldoot usage | Survey and communication missions |
| Jaldoot acceptance tests | Completed between Oct 17-21, 2024 |
| Current price | ₹1,778 (1.01% up) |
| Friday’s high price | ₹1,828.28 |
| The stock gained in 5 days | 4.18% |
| Recent annual stock gain | 109.69% |
| Sensex gain for comparison | 17% |
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