Garden Reach Shipbuilders rises on signing MoU with Indian Register of Shipping
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Garden Reach Shipbuilders is currently trading at Rs. 830.35, up by 11.30 points or 1.38% from its previous closing of Rs. 819.05 on the BSE.
The scrip opened at Rs. 828.80 and has touched a high and low of Rs. 849.00 and Rs. 827.20 respectively. So far 12851 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 973.95 on 08-Sep-2023 and a 52 week low of Rs. 398.75 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 859.00 and Rs. 799.05 respectively. The current market cap of the company is Rs. 9519.27 crore.
The promoters holding in the company stood at 74.51%, while Institutions and Non-Institutions held 8.90% and 16.60% respectively.
Garden Reach Shipbuilders & Engineers and Indian Register of Shipping (IRS) have reaffirmed their commitment to innovation, new technology adoption and sustainability with the signing of a Memorandum of Understanding (MoU) on the development of Green Energy and Autonomous Vessels, aimed at revolutionizing the maritime industry.
The strategic partnership between the company, a leading shipbuilding company, and IRS, a premier classification society, underscores a shared commitment towards harnessing advanced technologies and expertise to address the evolving needs of the maritime sector. Through this MoU, both entities aim to pool their strengths and resources to drive innovation and excellence in vessel design and development.
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.
