Introduction:
Leading shipbuilding company has secured a contract for the construction of its second 7,500 DWT multi-purpose vessel, continuing its expansion in the industry. The deal, signed in Hamburg, Germany, builds on a previous order for additional vessels.
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Share price movement of GRSE:
On December 6, 2024, Garden Reach Shipbuilders & Engineers Ltd. opened at ₹1,793.80, up 1.94% from its previous close of ₹1,759.60. The stock reached a high of ₹1,803.90 and a low of ₹1,770.80. By 10:20 AM, it traded at ₹1,775.00, a 0.88% increase, with a market cap of ₹20,325.53 crore.
GRSE signs MPV construction contract:
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) signed a contract for the construction and delivery of the second 7,500 DWT multi-purpose vessel (MPV) in a series of four. The contract was finalized in Hamburg, Germany.
This deal builds on the earlier order communicated on September 18, 2024, for the construction of four additional MPVs. The remaining two contracts will be announced once finalized. GRSE continues to expand its shipbuilding portfolio, further strengthening its presence in the industry.
The financial implications of the contract remain unchanged, as previously outlined. This marks a significant milestone for GRSE in its long-term growth strategy, enhancing its capabilities in producing multi-purpose vessels for diverse marine needs.
Recent news on GRSE:
As of November 13, 2024, Garden Reach Shipbuilders and Engineers (GRSE) Ltd. reported a total income of ₹2,311 crore for the first half of FY24-25, reflecting a growth from ₹1,796 crore during the same period last year.
Stock performance of GRSE for Period of 1 week, 6 months and 1 year:
Over the past week, Garden Reach Shipbuilders and Engineers (GRSE) Ltd. saw a return of 4.82%. In the last six months, the stock has risen by 30%, and it has delivered an impressive 108% return over the past year.
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Shareholding pattern of GRSE:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 74.50% | 74.50% | 74.50% |
| FII | 3.70% | 3.90% | 3.30% |
| DII | 1.90% | 3.20% | 6.10% |
| Public | 20.00% | 18.40% | 16.10% |
About GRSE:
Garden Reach Shipbuilders & Engineers Ltd. (NSE: GRSE) is a leading Indian shipbuilding company under the Ministry of Defence, specializing in warships for the Indian Navy and Coast Guard, and the first to export 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.
