GRSE rises on inking pact for construction and delivery of vessel
Garden Reach Shipbuilders & Engineers is currently trading at Rs. 1718.60, up by 13.90 points or 0.82% from its previous closing of Rs. 1704.70 on the BSE.
The scrip opened at Rs. 1755.05 and has touched a high and low of Rs. 1790.00 and Rs. 1713.75 respectively. So far 171933 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. 761.70 on 28-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1790.00 and Rs. 1374.95 respectively. The current market cap of the company is Rs. 19686.91 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 and Engineers (GRSE) has signed a contract with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG Germany on March 24, 2025, for the construction and delivery of 7th & 8th multi-purpose vessel (MPV) of 7,500 DWT, in Hamburg, Germany. This contract is in line with the ‘Option Agreement’ signed between both the parties, for procurement of four additional MPVs from GRSE. The shipyard will build a total of eight vessels at an around order value of $108 million.
Each MPV will be 120 metre long and 17 metre wide with a maximum draft of 6.75 metre. It can carry 7,500 metric tonnes of cargo. Each vessel will have a single cargo hold to accommodate bulk, general and project cargoes and Containers will be carried on hatch covers. These ships have been specifically designed to carry multiple large windmill blades on deck.
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.
