Garden Reach Shipbuilders moves up on signing contract with Government of India
Garden Reach Shipbuilders & Engineers is currently trading at Rs. 1355.00, up by 3.30 points or 0.24% from its previous closing of Rs. 1351.70 on the BSE.
The scrip opened at Rs. 1345.00 and has touched a high and low of Rs. 1373.00 and Rs. 1319.00 respectively. So far 25598 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2834.60 on 05-Jul-2024 and a 52 week low of Rs. 674.25 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1430.05 and Rs. 1201.20 respectively. The current market cap of the company is Rs. 15501.75 crore.
The promoters holding in the company stood at 74.50%, while Institutions and Non-Institutions held 5.57% and 19.93% respectively.
Garden Reach Shipbuilders & Engineers (GRSE) has signed contract with Ministry of External Affairs, Government of India for funding of Normal Refit of Mauritius Coast Guard Ship CGS Barracuda (MCGS Barracuda) to be undertaken by the company. MCGS Barracuda, a warship, was constructed and supplied by GRSE to the Government of Mauritius for use of their Coast Guard in the year 2014.
Broad consideration or size of the contract is Rs 123.07 crore plus 15% GoW (Growth of Work /Additional Work and Additional Spares) (excluding taxes). The said contract is expected to be completed in 10 months from the date of availability of Ship for refit, GRSE, Kolkata.
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.
