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%.
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.
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.
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.
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.
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