Shipping stock jumps after signing contract with Min. of External Affairs for refit of Mauritius coast guard ship CGS BarracudaShipping stock jumps after signing contract with Min. of External Affairs for refit of Mauritius coast guard ship CGS Barracuda

Introduction:

Leading shipping and defense solutions provider has secured a significant contract from the Ministry of External Affairs for the refit of Mauritius Coast Guard Ship CGS Barracuda. The project, valued at ₹23.07 crore, aims to enhance the vessel’s operational capabilities.

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Share price movement of GRSE:

On February 20, 2025, Garden Reach Shipbuilders & Engineers Ltd opened at ₹1,345.00, down 0.49% from its previous close of ₹1,351.70. The stock reached a high of ₹1,373.00 (1.58%) and a low of ₹1,319.00. By 12:22 PM, it traded at ₹1,349.35, a 0.17% decline, with a market cap of ₹15,457.07 crore.

GRSE Secures Contract for Refit of Mauritius Coast Guard Ship:

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has signed a contract with the Ministry of External Affairs, Government of India, for the normal refit of Mauritius Coast Guard Ship CGS Barracuda. Originally built by GRSE in 2014, the warship will undergo a comprehensive refit to enhance its operational efficiency.

The contract, valued at ₹23.07 crore, includes both services and mandatory spare parts, with provisions for additional work under the Growth of Work scope. The project is expected to be completed within ten months from the ship’s availability at GRSE’s Kolkata facility.

This contract further strengthens GRSE’s global footprint in shipbuilding and maintenance. The refit project aligns with India’s commitment to supporting maritime security for partner nations. The deal also reinforces GRSE’s position as a trusted defense contractor with expertise in warship construction and upgrades.

Recent news on GRSE:

As of December 5, 2024, Garden Reach Shipbuilders & Engineers Ltd has signed a contract for the second 7,500 DWT Multi-Purpose Vessel in a series of four additional vessels, following its earlier announcement in September 2024.

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

Over the past week, Garden Reach Shipbuilders & Engineers Ltd saw a decline of 4.15%. The stock has faced a 23.4% drop over the last six months. However, despite short-term volatility, it has delivered a strong 67.3% gain over the past year.

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Shareholding pattern of GRSE:

Particulars	Dec 2024	Sep 2024	Jun 2024
Promoter	74.50%	74.50%	74.50%
FII	3.70%	4%	4%
DII	1.90%	1.90%	3.20%
Public	19.90%	20%	18%

About GRSE:

Garden Reach Shipbuilders & Engineers Ltd (NSE: GRSE) is a leading Indian shipbuilding company under the Ministry of Defence, specializing in naval and coast guard vessels. It is the first Indian shipyard to export warships and has delivered 100 warships.

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.