Latest news with #GRSE
Time of India
a day ago
- Business
- Time of India
GRSE begins building 13 all-weather hybrid ferries for Kolkata's Hooghly route
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Transportation 1. Noida airport partners with Uber to offer app-based taxi services Kolkata: Garden Reach Shipbuilders and Engineers (GRSE) Ltd inaugurated the construction of 13 hybrid ferries which will operate in all-weather conditions on River Hooghly in the Kolkata Metropolitan Area (KMA), from Triveni in the north to Diamond Harbour in the ferries are poised to bring change in river transportation, by reducing pollution and offering comfortable journey for the of the ferries were laid for all 13 ferries at a ceremony on Thursday, which was attended by West Bengal Transport Minister Snehasis Chakraborty, Minister of State for Transport Dilip Mondal, Chairperson and Managing Director of GRSE CMDE P.R. Hari, IN (Retd.), Chairperson of WBTIDCL Dr. Moinul Hassan, and other senior of the 13, six ferries will have twin decks with a capacity of 200 passengers each. The main deck will be air-conditioned and the vessels will be about 30 meters long and 8-10 meters wide. The estimated cost of these six vessels is around Rs 126 crore, GRSE said in a statement. The remaining seven vessels will have a single deck with a passenger capacity of 100. These seven vessels are expected to cost nearly Rs 100 a bid to promote environment friendly green transport initiative , the vessels, which are built for the West Bengal Transport Infrastructure Development Corporation Ltd. (WBTIDCL), will replace ageing diesel had signed a contract with the Bengal Transport Department for the design and construction of the 13 hybrid ferries in November last year.'We are proud to spearhead the green initiatives of the West Bengal government and I am confident that we shall design & deliver high quality vessels to minimize the carbon emission in the maritime sector,' CMDE Hari Transport Minister Snehasis Chakraborty praised GRSE's shipbuilding excellence for delivering 'Dheu', India's largest and fastest fully electric ferry, now operational between Kolkata and Belur had earlier designed and built a next generation zero-emission ferry for the state government, named 'Dheu'. It was delivered on January 9, 2025 and is now operating on the River Hooghly.
The Hindu
2 days ago
- Business
- The Hindu
GRSE begins construction of 13 hybrid ferries for Hooghly river service
Garden Reach Shipbuilders and Engineers (GRSE) on Thursday inaugurated the construction of 13 hybrid ferries intended to operate along the Hooghly river within the Kolkata Metropolitan Area. Keels were laid for all 13 ferries at a ceremony attended by West Bengal Transport Minister Snehasis Chakraborty, Minister of State for Transport Dilip Mondal, Chairperson and Managing Director of GRSE Cmde. P.R. Hari, IN (Retd.), Chairperson of WBTIDCL Dr. Moinul Hassan, and other senior officials. The vessels, being built for the West Bengal Transport Infrastructure Development Corporation Ltd. (WBTIDCL), are expected to replace ageing diesel ferries and support the State's broader green transport initiative. GRSE had signed a contract with the State Transport Department on November 19, 2024, for the design and construction of these ferries. According to a statement issued by GRSE, the ferries are designed to operate in all-weather conditions across the Hooghly stretch, from Triveni in the north to Diamond Harbour in the south. The Hooghly forms part of National Waterway-1, also known as the Ganga-Bhagirathi-Hooghly River System. The ferries will be equipped with hybrid electric propulsion systems, powered by both batteries and diesel generators. 'The hybrid system will offer greater flexibility to the operator to switch from one mode to the other as per requirement, allowing for greater safety. The use of batteries will reduce pollution substantially,' the company said. The vessels will be constructed using aluminium and fibre-reinforced polymer (FRP) and will feature a catamaran hull design for better stability and efficiency. Six of the 13 ferries, with twin decks and air-conditioned main decks, are estimated to cost ₹126 crore. Each of these 30-metre-long vessels will accommodate 200 passengers and operate at a maximum speed of 12 knots, requiring a crew of five. The remaining seven vessels, expected to cost nearly ₹100 crore, will have single decks with a 100-passenger capacity. These will be approximately 25 metres in length and 8 metres in width, with a top speed of 9 knots. Each vessel will be manned by a five-member crew. Speaking at the ceremony, Transport Minister Snehasis Chakraborty said the new ferries would gradually replace older diesel-powered vessels. He also highlighted the operation of Dheu, one of India's largest and fastest fully electric ferries, manufactured by GRSE, currently operating between Kolkata and Belur Math. 'We are proud to spearhead the green initiatives of the Government of West Bengal, and I am confident that we shall design and deliver high-quality vessels to minimise the carbon emission in the maritime sector,' Cmde. Hari said.
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Business Standard
3 days ago
- Business
- Business Standard
What's behind the 157% surge in Garden Reach Shipbuilders from March low?
Garden Reach Shipbuilders & Engineers (GRSE) share price today Garden Reach Shipbuilders & Engineers (GRSE) shares hit a new high of ₹3,031 on the BSE today, as they rallied 5 per cent in Thursday's intraday trade on a healthy business outlook. In the past three weeks, the stock price of the state-owned shipbuilding company has surged 71 per cent after it reported strong earnings for the quarter ended March 2025 (Q4FY25). GRSE share price has more-than-doubled, zooming 157 per cent, from its three-month low price of ₹1,180.10 which it touched on March 3, 2025. At 10:38 AM, GRSE shares were quoting 3 per cent higher at ₹2,974.10 as compared to 0.05 per cent rise in the BSE Sensex. GRSE Q4 results In the March 2025 quarter (Q4FY25), GRSE's revenue from operations moved up from ₹1,015 crore to ₹1,642 crore, registering a growth of 62 per cent year-on-year (Y-o-Y). Earnings before interest, taxes, depreciation and amortisation (Ebitda) moved up from ₹166 crore to ₹335 crore, registering a growth of 101 per cent Y-o-Y, and the profit after tax climbed from ₹114 crore to ₹244 crore, registering a 118 per cent growth Y-o-Y. This has been backed by a very strong physical performance, supported by an efficient and effective treasury management system, the management said. GRSE becomes L1 bidder for NGC Project On May 22, 2025, GRSE informed the stock exchanges that the company has bagged ₹25,000-crore order from the Indian Navy. "During the Commercial Negotiation Committee (CNC) meeting convened by the Ministry of Defence (MoD) for opening of commercial bids for the acquisition of eight Next Generation Corvettes (NGC) on May 21, 2025, the Commercial bids were opened and it was noted that GRSE became the lowest bidder (L1) for Construction of NGC for Indian Navy. The L1 bidder will be awarded five NGC ships at a likely value of more than ₹25,000 crore," GRSE said in an exchange filing. GRSE order book As on March 31, 2025, the company's order book stood at ₹22,652 crore. Further, despite the strong revenue accrual to the tune of nearly ₹5,000 crore, the management said the company managed to maintain the order book at ₹22,680 crore as on March 31, 2025. This comprises nine projects, consisting of 40 platforms, including 16 warships for the Indian Navy from 4 projects, three P-17 Alpha Frigates, 7 Anti-Submarine Shallow Watercraft, 2 Survey Vessels Large and 4 Next Generation Offshore Patrol Vessels. Meanwhile, the robust shipbuilding order pipeline, including large orders, such as the P-17 Bravo Frigates (eight units for ₹70,000 crore), the Next Generation Corvettes (NGC); eight units of ₹40,000 crore, project likely to be awarded in FY26, 18 next generation fast patrol vessels worth ₹3,000 crore, five next generation survey vessels worth ₹3,500 crore, 31 waterjet fast attack craft worth ₹3,000 crore, 12 mine countermeasure vessels worth ₹32,000 crore and several small projects of ₹1,500-₹3,000 crore. Elara Capital on GRSE According to analysts at Elara Capital, GRSE positively surprised on the top line in Q4FY25, led by execution ramp-up along with margin expansion due to operating leverage and provision reversal. Management reiterated its positive outlook with a strong order visibility, which will replenish order book from FY29. The company could be a potential beneficiary of the commercial shipbuilding thrust by the government, it said. The brokerage, however, has downgraded GRSE stock to 'Sell' from 'Accumulate' as growth is likely to peak in FY27. Besides, the stock has seen a sharp rally over the past three months, outperforming the Nifty index during the period. The brokerage firm expects an EPS CAGR of 2 per cent during FY25-28E with an average ROE of 26 per cent during FY26-28E. About Garden Reach Shipbuilders Garden Reach Shipbuilders & Engineers is a shipbuilding company operating under the Ministry of Defence. Headquartered in Kolkata, Garden Reach Shipbuilders plays a vital role in strengthening India's maritime capabilities, primarily focusing on the construction of sophisticated warships and vessels for the Indian Navy and Coast Guard. In addition to defence projects, the company also undertakes the construction of commercial vessels, highlighting its versatility in shipbuilding. Beyond its core shipbuilding operations, the company has diversified into engineering and engine-related activities. It manufactures a wide range of marine and industrial products including deck machinery, prefabricated steel bridges, and marine pumps. Its engine division specialises in the assembly, testing, and overhauling of MTU diesel engines. With a proven track record of delivering over 100 warships to Indian defence forces, Garden Reach Shipbuilders is also recognised as a major exporter in the global warship market. Its main shipbuilding facility is located at the Rajabagan Dockyard in India.
Economic Times
3 days ago
- Business
- Economic Times
Smallcap mania is back. But do Q4 earnings really justify the multibagger hype?
A blistering rally in smallcap stocks is reigniting investor dreams of overnight riches but the numbers are telling a far more complicated story. With the BSE Smallcap Index up nearly 10% in one month, retail participation is surging, echoing the speculative fervor of the last bull market that climaxed in September 2024. And the excitement isn't just index-level: in the last one month, a staggering 69 smallcap stocks have delivered over 30% returns. Among the biggest gainers, Suven Life Sciences surged 83%, while GRSE, Timex, IFCI, Nelcast, and HLE Glascoat all rallied at least 50%. ADVERTISEMENT But while prices soar, fundamentals remain shaky and earnings aren't keeping pace with the hype. 'Indian smallcaps and midcaps seem to have outperformed largecaps in Q4 FY25, but the numbers tell a different story,' said Akshay Badjate, Fund Manager at Merisis PMS. 'Our analysis of the top 750 listed companies shows smallcaps lagging in profit growth, with a median PBT growth of just 4% compared to 11% for the top 250 largecaps. Many smallcaps even posted flat or negative growth, undermining the narrative of a broad-based rally.' Despite the tepid performance on the bottom line, investor appetite has remained insatiable. The Nifty Smallcap 250 has rallied 9% in the last two months, triple the 3% rise seen in the Nifty 50. Badjate attributes this surge to 'liquidity, retail enthusiasm, and domestic growth optimism,' but warns that the disconnect between price and performance may not be sustainable.'Our view at Merisis Advisors is cautious,' he said. 'While select smallcaps with strong fundamentals remain appealing, the segment risks a correction if earnings don't align with valuations. We're trimming smallcap exposure and leaning into largecaps and large midcaps, where we see better operational momentum and value.' Also read | Rs 7 lakh crore boom in just 10 days! Is the smallcap stocks party getting out of hand? ADVERTISEMENT Q4 did deliver a few bright spots for the broader market. 'The Nifty Midcap 150 reported 15% YoY profit growth and the Smallcap 250 delivered 12%. Margin performance was largely stable in midcaps, though smallcaps saw some pressure,' said Krishna Appala, Fund Manager at Capitalmind Appala also flagged that the earnings catch-up story has its limits. 'Valuations remain stretched — midcaps trade at 34x and smallcaps at 32x trailing earnings, well above the 22x seen in largecaps. The divergence between earnings and valuations in the broader market calls for greater selectivity.' ADVERTISEMENT He further added that while largecaps may appear sluggish, they now offer a better risk-reward profile. 'Despite the sharp upmove recently, largecaps currently offer a better balance of earnings visibility and valuation comfort on a forward-looking basis. The environment today rewards fundamentals and discipline over broad-based exposure — especially when mid and smallcap multiples leave little room for error.'Still, not all fund managers are ready to write off smallcaps just yet. Vaibhav Chugh, Director and Head of Sales at Whiteoak Capital AMC, sees rich opportunity in the chaos — provided investors pick wisely. ADVERTISEMENT 'Yes, the result season started slow but as it progressed, midcaps and smallcaps have surprised on growth trajectory as well as upgrades to downgrades statistics,' Chugh said. 'We continue to be overweight small caps. We find relatively high alpha opportunities due to the heterogeneity of business models, sectors and sub-sectors in the smallcap space — which is the ideal setup for bottom-up stock pickers.' With nearly 70 smallcap names delivering eye-popping returns in a matter of weeks, the lure of the next multibagger is proving hard to resist. But experts caution that investors need to tread carefully — the fundamentals are not as broad-based as the rally suggests, and elevated valuations leave little room for disappointment. The smallcap story is far from over, but chasing momentum without earnings to back it could lead to painful lessons. Also read | Sensex soars 10,000 points from April lows. But India Inc's Q4 numbers expose cracks in market rally (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
3 days ago
- Business
- Mint
Three stocks to buy on 29 May: Recommended by Ankush Bajaj
On Wednesday, 28 May, India's stock market traded sideways, reflecting uncertainty and a lack of fresh triggers. After opening slightly higher and testing key levels in early trade, the indices lost momentum and moved within a narrow range for the rest of the session. India VIX, the fear gauge, declined, indicating lower volatility and reduced nervousness among traders. The Nifty 50 closed 73.75 points lower, down 0.30% at 24,752.45 points. The BSE Sensex dropped 239.31 points or 0.29% to end at 81,312.32. Bank Nifty showed slight strength and ended 64.20 points higher, up 0.12% at 55,417.00. Three stocks to buy today: Recommended by Ankush Bajaj Why GRSE is recommended: On the daily chart, the stock has shown strong bullish momentum and broken out of a consolidation range, indicating potential for further upside. Additionally, on the lower time frames, the stock has given a breakout with volume, which confirms the bullish setup and suggests a potential rally in the stock. Key metrics Resistance level: ₹2,950-2,970 (short-term target zone) Support level: ₹2,870 (pattern invalidation level) Pattern: Bullish continuation breakout on daily chart; volume-backed breakout on lower time frame RSI: Bullish on both daily and lower time frames, confirming the breakout Technical analysis: The stock has broken out of a bullish consolidation pattern, showing strong price action and follow-through buying. The RSI adds further confirmation to the bullish structure. Sustaining above ₹2,891 increases the probability of reaching the target zone. Risk factors: A breakdown below ₹2,870 may invalidate the breakout. Broader market weakness or negative sentiment may impact performance. Buy at: ₹2,891 Target price: ₹2,950-2970 in 4-5 days Stop-loss: ₹2,870 Why Mazagon Dock is recommended: On the lower time frames, the stock has formed a triangle pattern and given a breakout, indicating a bullish setup with potential for a sharp move. Additionally, the stock is trading near its lifetime high and looks ready to make a fresh breakout, suggesting strong momentum and further upside. Key metrics Resistance level: ₹3,810-3,840 (short-term target zone) Support level: ₹3,588 (pattern invalidation level) Pattern: Triangle breakout on lower time frame; nearing lifetime high breakout RSI: Bullish on both daily and lower time frames, confirming the breakout Technical analysis: The stock has shown strong bullish consolidation with a breakout on lower time frames. It is approaching a new lifetime high, supported by bullish RSI and strong price structure. Sustaining above ₹3,663 increases the probability of reaching the target zone. Risk factors: Breakdown below ₹3,588 may invalidate the breakout. Broader market weakness or negative sentiment may impact performance. Buy at: ₹3,663 Target price: ₹3,810-3,840 in 4-5 days Stop-loss: ₹3,588 Why LT Foods is recommended: On the lower time frames, the stock has given a rectangle breakout, indicating accumulation and a fresh bullish move. Additionally, on the hourly chart, the stock has broken out of a rising wedge pattern, further confirming the bullish structure and potential for an upward rally. Key metrics Resistance level: ₹434-438 (short-term target zone) Support level: ₹416 (pattern invalidation level) Pattern: Rectangle breakout on lower time frame; rising wedge breakout on hourly chart RSI: Bullish on both hourly and lower time frames, confirming the breakout Technical analysis: The combination of rectangle and rising wedge breakouts suggests strong momentum and buyer interest. The price action is supported by bullish RSI, which adds conviction to the breakout. Sustaining above ₹422 increases the probability of reaching the target zone. Risk factors: Breakdown below ₹416 may invalidate the breakout. Broader market weakness or negative sentiment may impact performance. Buy at: ₹422 Target price: ₹434-438 in 4-5 days Stop-loss: ₹416 Market wrap Among sectors, PSU Bank was the top gainer with a 0.97% rise. The financial services index also closed higher by 0.22%, followed by the banking index, which gained 0.12%. However, the broader market sentiment remained weak. The FMCG sector was the biggest loser, down 1.49%, followed by the consumption index, which fell 0.89%, and the healthcare index, which ended 0.68% lower. Among the top gainers, HDFC Life Insurance rose 1.76% due to continued buying interest. Bharat Electronics gained 1.31%, supported by recent defense-related developments. Bajaj Finance closed 1.05% higher amid stock-specific momentum. On the losing side, ITC dropped 3.16% on weakness in FMCG stocks. IndusInd Bank fell 1.93% due to cautious sentiment in banking names. Apollo Hospitals declined 1.65% on account of profit booking after recent gains. Nifty technical analysis daily & hourly The Nifty 50 opened at 24,832 and remained under pressure throughout the day, eventually closing at 24,752, down slightly from the previous day. It marked an intraday high of 24,864 and a low of 24,737, and, importantly, closed below the lower end of the 27 May range, signaling continued short-term weakness. Despite several attempts, the index failed to cross above the 24,900-25,000 zone, affirming 25,100 as a strong resistance. On the downside, the 24,700 level acted as a near-term support, but a break below this can expose the index to further declines toward 24,500. From a broader trend perspective, the index still trades above the 20-day SMA (24,647) and the 40-day EMA (24,221), indicating that the long-term trend remains intact. However, daily momentum indicators are weakening—RSI has slipped to 56 with a downward slope, and the MACD remains in a sell signal below the zero line, suggesting fading strength in the current uptrend. On the hourly chart, the setup has turned more clearly negative. The index is trading below both the 20-hour SMA (24,860) and the 40-hour EMA (24,819), and both moving averages are beginning to flatten out. The hourly RSI has dropped further to 45, indicating weakening momentum on an intraday basis. Additionally, the MACD line remains below the zero mark and continues to signal bearishness. The closing near the lower end of the day's range and below key hourly averages increases the chances of further intraday downside if 24,700 is breached in the next session. From the derivatives perspective, the maximum open interest on the call side remains at 24,800 and 25,000 strikes, establishing a strong ceiling for the index. On the put side, the highest OI is seen at 24,500-24,700, which may offer short-term support. Notably, there was significant OI buildup on the 24,750 and 24,800 call strikes, while fresh put writing was visible at the 24,700 and 24,750 levels, suggesting a tug-of-war between bulls and bears. India VIX dropped by 2.80% to settle at 18, indicating some cooling in volatility despite the expiry. Given the technical and derivatives setup, Nifty appears range-bound with a negative bias unless it manages to decisively reclaim levels above 24,800-25,000. A sustained breach below 24,700 could trigger further selling, potentially dragging the index toward 24,500 in the near term. Traders are advised to remain cautious and avoid aggressive long positions until strength is confirmed. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
