Introduction:
Leading defence manufacturer has signed an MoU with Apollo Micro Systems Ltd. to jointly develop advanced weapons and electronic systems. This collaboration focuses on R&D, co-production, and supply, strengthening India’s defence capabilities and supporting the Atmanirbhar Bharat initiative.
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Share price movement of GRSE:
On January 30, 2025, Garden Reach Shipbuilders & Engineers Ltd opened at ₹1,559.85, up 1.3% from its previous close of ₹1,539.90. The stock reached a high of ₹1,595.00 (3.5%) and a low of ₹1,502.90. By 4:01 PM, it traded at ₹1,519.60, a 1.32% decline, with a market cap of ₹17,407.32 crore.
GRSE & Apollo Micro Partner for Defence:
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has signed an MoU with Apollo Micro Systems Ltd. (AMS) to jointly develop and supply advanced weapons and electronic systems. The agreement, signed on January 29, 2025, aims to enhance India’s defence capabilities.
The collaboration focuses on R&D, co-production, and supply of underwater weapons, vehicles, mines, communication systems, and air defence solutions. These systems will cater to the Indian Defence forces, paramilitary units, police, government agencies, and export markets, ensuring cutting-edge technological advancements.
By leveraging their core strengths, GRSE and AMS will enhance manufacturing infrastructure and upgrade existing systems to meet evolving operational needs. This partnership reinforces GRSE’s commitment to indigenous defence production, aligning with India’s Atmanirbhar Bharat initiative for self-reliance in defence technology.
Recent news on GRSE:
As of December 5, 2024, Garden Reach Shipbuilders & Engineers Ltd (GRSE) announced the signing of a contract for the construction of its second 7,500 DWT Multi-Purpose Vessel (MPV). This contract follows the company’s earlier order for four additional MPVs.
Stock performance of GRSE for Period of 1 week, 6 months and 1 year:
Garden Reach Shipbuilders & Engineers Ltd delivered a 2.21% gain over the past week but saw a 32.6% decline in six months. However, its strong one-year return of 68.5% highlights long-term growth despite recent volatility in the stock.
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Shareholding pattern of GRSE:
All values in % | 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 shipbuilding company based in Kolkata, India. Specializing in building naval ships, submarines, and providing engineering solutions, it is a key player in India’s defence and maritime sectors.
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.