Garden Reach Shipbuilders & Engineers jumps on launching Autonomous Underwater Vehicle
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Garden Reach Shipbuilders & Engineers is currently trading at Rs. 616.15, up by 9.15 points or 1.51% from its previous closing of Rs. 607.00 on the BSE.
The scrip opened at Rs. 607.35 and has touched a high and low of Rs. 632.00 and Rs. 607.00 respectively. So far 34764 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 636.75 on 11-Jul-2023 and a 52 week low of Rs. 250.40 on 04-Aug-2022.
Last one week high and low of the scrip stood at Rs. 635.90 and Rs. 593.60 respectively. The current market cap of the company is Rs. 7077.02 crore.
The promoters holding in the company stood at 74.50%, while Institutions and Non-Institutions held 10.58% and 14.93% respectively.
Garden Reach Shipbuilders & Engineers (GRSE) has launched an Autonomous Underwater Vehicle (AUV). The AUV is lightweight and man-portable one that GRSE developed in collaboration with M/s Aerospace Engineering (AEPL) as an industry partner. It has been designed to operate in a totally autonomous manner and its modular design enables it to carry out a variety of roles depending on the payload. This can be used for mine detection, Anti-Submarine Warfare (ASW) training, underwater inspection, search and rescue missions or scientific exploration.
The development of this AUV is also a major step towards indigenisation in keeping with the nation's 'Atmanirbharta' policy. This is GRSE's first move towards the development of AUVs. GRSE also plans to unveil its ship-based Unmanned Aerial Vehicle (UAV) and Unmanned Surface Vessel by the end of the year.
Garden Reach Shipbuilders & Engineers is a shipbuilding company in India under the administrative control of the MoD and primarily adhere to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.
