PSU stock jumps 8% after signing MoU with PWD Nagaland for modular steel bridgesPSU stock jumps 8% after signing MoU with PWD Nagaland for modular steel bridges

Introduction:

Leading PSU has achieved a significant milestone by signing its first-ever MoU with a North Eastern state. The agreement with PWD Nagaland aims to supply eight Double Lane Modular Steel Bridges, strengthening regional infrastructure under the “Make in India” initiative.

Also Read: Cable stocks fall 9% after Adani Group forays into cables and wires business

Share price movement of GRSE:

On March 20, 2025, Garden Reach Shipbuilders & Engineers Ltd. (GRSE) opened at ₹1,734.95, up 5.72% from its previous close of ₹1,641.15. The stock hit a high of ₹1,782.50 (8.61%) and a low of ₹1,647.10. By 11:44 AM, it traded at ₹1,721.70, a 4.91% increase, with a market cap of ₹19,722.42 crore.

GRSE Signs Historic MoU with PWD Nagaland for Modular Steel Bridges:

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has achieved a historic milestone by signing its first-ever MoU with a North Eastern state. The agreement with PWD Nagaland covers the supply of eight Double Lane Modular Steel Bridges, supporting regional infrastructure growth under the “Make in India” initiative.

The MoU was signed in Kohima on March 19, 2025, by DIG Subrato Ghosh, ICG (Retd.), Director (Personnel), GRSE, and Shri Swarai Meru, Chief Engineer, PWD Nagaland, in the presence of senior officials. This collaboration aims to enhance connectivity and boost economic development in Nagaland.

GRSE has a strong track record in modular bridge supply, having delivered over 5,800 bridges to various state governments, BRO, NHIDCL, and neighboring countries like Bhutan, Nepal, Myanmar, Sri Lanka, and Bangladesh. This partnership further solidifies GRSE’s role in advancing infrastructure development.

Recent news on GRSE:

As of February 03, 2025, Garden Reach Shipbuilders & Engineers Ltd. (GRSE) reported a 37% YoY revenue growth to ₹1,271 crore, with net profit rising 12% to ₹98 crore. EBITDA surged 55%, and the company declared a record ₹8.95 interim dividend.

Stock performance of GRSE for Period of 1 week, 6 months, and 1 year:

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) surged 25.9% in a week, indicating strong short-term momentum. However, the stock declined 11.6% over six months. Despite this, it delivered an impressive 118% return over the past year, showcasing long-term strength.

Also Read: IT stock jumps 15% after settling record date for ₹7.5 dividend

Shareholding pattern of GRSE:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	74.50%	74.50%	74.50%
FII	3.70%	3.70%	3.90%
DII	1.90%	1.90%	3.20%
Public	19.90%	20.00%	18.40%

About GRSE:

Garden Reach Shipbuilders & Engineers Ltd. (NSE: GRSE) is a leading Indian shipbuilding company under the Ministry of Defence, known for delivering 100 warships and exporting warships while serving the Indian Navy and Coast Guard with excellence.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.