GARDEN REACH SHIPBUILDERS AND ENGINEERS GRSE LTD
India and Bangladesh strengthened defence ties with new naval contracts
India and Bangladesh have strengthened their defence ties through a new deal signed after Bangladesh PM Sheikh Hasina's visit to India. The Bangladesh Navy contracted India's Garden Reach Shipbuilding and Engineers (GRSE) for an 800-tonne oceangoing tug, funded by Indian credit. GRSE also recently signed a deal for a dredger. The tug will aid in towing, berthing, and rescue operations, and can handle harsh sea conditions. The nations also agreed on further cooperation in maritime security, space, and counterterrorism.
PSU shipyard GRSE to build ocean-going tug for Bangladesh
The tug's primary roles will include towing ships at sea, both alongside and astern, assisting them during berthing and casting off, and aiding in turning through pushing and pulling, the GRSE official said. The vessel will also have the capability to carry out rescue and salvage operations at sea.
GRSE shares jump 8% after signing construction contract with Bangladesh government
Shares of Garden Reach Shipbuilders & Engineers (GRSE) surged 8% to reach a new all-time high of Rs 2,268 on the BSE on Monday following the announcement of securing a contract to build an advanced ocean-going tug for the Government of Bangladesh. The project, valued at approximately $21 million, is expected to be completed within 24 months.
Mazagon Dock shares surge over 4% amid talks of Rs 35,000 crore deal with Ministry of Defence
MDL shares rose 4.3% as discussions with MoD for Rs 35,000 crore deal on Kalvari-class submarines progress with 60% indigenous content commitment.
GRSE secures export order worth $54 mn from German co for commercial vessels
Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd has signed a $54 million contract with Germany-based shipping company Carsten Rehder Schiffsmakler und Reederei GmbH and Co. KG for the construction and delivery of four multi-purpose cargo vessels. The vessels, each 120 meters in length and 17 meters in width, will carry 7,500 metric tonnes of cargo.
GRSE shares surge 8% after it becomes L1 bidder for DRDO order
GRSE further informed that the deal is still in its negotiation phase and has not been signed yet. The company has given multibagger returns of 169% to its investors in the last year while in the last 6 months, the shares of GRSE have increased by 60.3%.
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Bullish Momentum: 4 stocks with White Marubozu Pattern on June 6
On June 6, these top 4 stocks with market cap over Rs 10,000 crore came to the bullish scanner of "White Marubozu", according to stockedge.com's technical scan data. A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest. Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session. Traders interpret it as a signal that buyers were in control from the opening to the closing, often using such patterns for informed decisions about future price movements in financial markets.
Technical Breakout Stocks: How to trade Garden Reach Shipbuilders, Cochin Shipyard and RVNL on Friday
Sensex rose nearly 1,200 points to hit a record high of 75,499 and Nifty settled near 23,000. Buying was seen in banks, capital goods, auto and consumer durables. Healthcare and metal stocks saw little selling pressure. Garden Reach Shipbuilders rose 20% to hit a fresh record high.
GRSE shares surge 20% after posting doubling Q4 profit but ICICI Securities screams sell
Shares of PSU defense company Garden Reach Shipbuilders (GRSE) experienced a significant surge of 20% on the BSE on Thursday, reaching a new all-time high of Rs 1,424.80. This surge followed the company's announcement of a remarkable 104% year-on-year (YoY) increase in its net profit to Rs 112 crore.
This equity mutual fund delivered highest returns in April. Know what it bought and sold in the month?
HDFC Defence Fund bought 4.8 lakh shares or 1.76% in Garden Reach Shipbuilders. In multibagger Mazagon Dock Shipbuilders and smallcap JNK India, this fund purchased 1,55,901 (1.36%) and 4,96,367 (1.28%) shares, respectively. The market value of these shares at the end of April 30, 2024, stood at Rs 47.47 crore, 36.62 crore and 34.47 crore, respectively.
4 defence stock picks by Prabhudas Lilladher that can rally up to 24%
Domestic brokerage firm Prabhudas Lilladher in its recent report has listed thematic technical picks from the defence sector. Take a look:
Buy Garden Reach Shipbuilders & Engineers, target price Rs 1080: Prabhudas Lilladher
Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 10037.62 Crore) operating in Shipping sector.
Shipping stocks surge up to 12% led by multibagger Mazagon Dock
Cochin Shipyard also hit its 52-week high of Rs 1,062 on the NSE, gaining 8% in the intraday trade. Garden Reach Shipbuilders shares remained unbeaten over the past three sessions, extending gains to 18%.
Sell Garden Reach Shipbuilders & Engineers, target price Rs 500: ICICI Securities
Garden Reach Shipbuilders & Engineers Ltd. key Products/Revenue Segments include Contract Revenue, Sale of Products, Sale of services, Scrap, Other Operating Revenue and Miscellaneous Income for the year ending 31-Mar-2023.
GRSE launches two new warships for Indian Navy
Two new warships, INS Agray and INS Akshay, have been launched for the Indian Navy to enhance anti-submarine operations in coastal waters and low-intensity maritime operations. The ships, built by Garden Reach Shipbuilders and Engineers Limited (GRSE), are designed to conduct anti-submarine operations in coastal waters, low-intensity maritime operations, and mine-laying operations.
GRSE, Rolls-Royce sign license agreement to manufacture MTU S4000 govt marine engines in India
Warship company GRSE and Rolls-Royce signed an agreement to produce MTU Series 4000 Marine Engines in India. The engines will be manufactured at GRSE's Diesel Engine Plant in Ranchi. The collaboration is part of the 'Make in India' initiative and will benefit the Indian Navy and Coast Guard.
Bharat Electronics Ltd bags orders worth Rs 2,673 crore from two firms
"BEL received orders worth Rs 2,673 crore from Goa Shipyard Limited (Rs 1,701 crore) and Garden Reach Shipbuilders & Engineers ( Rs 972 crore) for supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels (NGOPV)," the filing said.
INS Sandhayak: GRSE delivers largest survey vessel built in India on Navy Day
On Navy Day 2023, Garden Reach Shipbuilders and Engineers (GRSE) delivered INS Sandhayak, the largest survey vessel built in India, to the Indian Navy. This vessel is the first of four advanced Survey Vessels (Large) (SVLs) being constructed by GRSE. Launched on December 5, 2021, INS Sandhayak replaces an earlier survey vessel of the same name, in service from 1981 to 2021.
GRSE partners with industry leaders to develop electric tugs E-VOLT 50
GRSE will be responsible for constructing the platform based on the design by Seatech, with Shift providing the energy storage expertise, and ABS ensuring compliance with all relevant regulatory standards, thereby certifying safety, reliability, and adherence to regulations.
INS Vindhyagiri launched: Key things to know about Indian Navy's new warship
President Droupadi Murmu on August 17 launched INS Vindhyagiri, a stealth ship of the Indian Navy at the Garden Reach Shipbuilders and Engineers Limited in Kolkata.
PSU defence stock tumbles 7% after post Q4 earnings
Garden Reach Shipbuilders & Engineers (GRSE) saw a 7% drop in its share price in Thursday's trading despite reporting a 17.16% increase in profit after tax (PAT) for the March quarter. GRSE's PAT increased to Rs 55.3 crore compared to Rs 47.2 crore a year ago, while revenue from operation rose by 10.68% to Rs 601.17 crore for the same period. Cmde Hari PR, IN (Retd) Chairman and MD of GRSE said the company had the "best ever" financial performance during FY 22-23, which was a credit to the team's resilience and resolve.
A Defence stock and a shipbuilder with potential of 10% and 5% rise
On Tuesday, the markets came under a bout of profit-taking with the Nifty ending the day with a loss of three-fifths of a percent. The index had opened on a good note hitting a high point in the early minutes of the trade. The Bank Nifty remained upbeat, though.
Buy Garden Reach Shipbuilders & Engineers, target price Rs 540: HDFC Securities
Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 5296.88 Crore) operating in Shipping sector.
Reduce Garden Reach Shipbuilders & Engineers, target price Rs 385: ICICI Securities
Promoters held 74.5 per cent stake in the company as of 31-Dec-2022, while FIIs owned 2.52 per cent, DIIs 7.55 per cent.
This PSU multibagger defence stock gets an upgrade from ICICI Securities
During an investor call with the brokerage, the management said it sees benefits from the ongoing fleet expansion drive in defence and that EBITDA margin during the quarter was lower due to all the recent orders coming via competitive bidding
Reduce Garden Reach Shipbuilders & Engineers, target price Rs 385: ICICI Securities
Garden Reach Shipbuilders & Engineers, incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 4947.50 Crore) operating in Shipping sector.
Multibagger defence stock plunges over 9% after Q3 results
GRSE posted a total income of Rs 749.38 crore in the quarter ended December 2022 as against Rs 530.86 crore during the quarter ended December 2021, recording a gain of 41%. The company's EPS stood at Rs 5.58 for Q3FY23 as compared to Rs 5.49 for the period Q3FY22.
GRSE signs pact with Rolls Royce Solutions to manufacture marine diesel engines
"The MoU deals with transfer of technology related to engine assembly, painting, parts sourcing and after-sales service for these engines that are to be assembled at GRSE's Diesel Engine Plant in Ranchi," the company official said in a statement.
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