Latest news with #GardenReachShipbuilders&Engineers
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Business Standard
a day ago
- Business
- Business Standard
GRSE shares rise 5% on global maritime push; stock up 85% in 1 month
Garden Reach Shipbuilders & Engineers ' scrip continued to soar as the shipbuilding firm continued signing strategic agreements with multinational companies as part of an official delegation visit. The public sector undertaking (PSU) company's stock rose as much as 5.1 per cent during the day to ₹3,418 per share. The stock hit a life high of ₹3,532 last Thursday. The stock pared gains to trade 1.2 per cent higher at ₹3,292 apiece, compared to a 0.41 per cent advance in Nifty 50 as of 10:03 AM. Shares of the company snapped a 4.5 per cent one-day loss on Monday and have risen over 85 per cent in the last month. The scrip has outrun the benchmark with a rally of over 103 per cent this year, compared to a 6.1 per cent advance in the Nifty50. Garden Reach Shipbuilders' market capitalisation is close to touching the ₹40,000 crore mark, according to Bloomberg. Track LIVE Stock Market Updates Here GRSE signs MoUs with Sweden, Denmark firms The shipbuilding PSU signed two significant Memoranda of Understanding (MoUs) during an official delegation visit to Sweden and Denmark, according to an exchange filing on Saturday. The first MoU was signed with Sweden-based Berg Propulsion, a player in marine propulsion systems. This partnership aims to enhance GRSE's capabilities in manufacturing propulsion-related equipment and systems, particularly for ongoing and upcoming government projects, it said in the statement. The collaboration is expected to leverage the technical expertise of both companies and strengthen GRSE's presence in the marine equipment segment. In a second key development, GRSE signed another MoU on June 6, 2025, with Denmark-based SunStone, a provider of expedition cruise vessels. This agreement lays the groundwork for potential future collaboration in the expedition cruise segment. Last week, the company announced the signing of three key international agreements during an official delegation visit to Norway. This came after it clarified that it signed a non-binding MoU with Norway-based Kongsberg to receive design expertise for the indigenous construction of a Polar Research Vessel. Garden Reach order book and 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. 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.
Mint
a day ago
- Business
- Mint
GRSE share price gains up to 5% on signing global MOUs : Do you Own the stock that has almost doubled year to date?
Stock Market Today. GRSE share price gained up to 5% during the morning trades on Monday. The Garden Reach Shipbuilders & Engineers Ltd or GRSE had announced signing various global MOU's over the weekend. The Garden Reach Shipbuilders & Engineers or GRSE stock has almost doubled year to date. Garden Reach Shipbuilders & Engineers or GRSE over the weekend on Saturday 07 June 025 announced that various Memorandums of Understanding (MoUs) were signed by the company while on an official delegation tour to Sweden and Denmark. With its long history of success in providing marine engineering goods, Garden Reach Shipbuilders & Engineers Limited (GRSE) inked a Memorandum of Understanding (MoU) with M/s Berg Propulsion, Sweden, a world leader in the design, production, and distribution of marine propulsion systems. This MOU is a strategic move to expand GRSE's line of business in the marine equipment industry. With an emphasis on current and upcoming government projects, the partnership will make use of both firms' combined technical expertise and skills in the production of propulsion-related systems and equipment. GRSE and M/s SunStone, Denmark, a leading provider of expedition cruise vessels, inked a Memorandum of Understanding on June 6, 2025. This Memorandum of Understanding lays the groundwork for upcoming cooperation in the field of expedition cruise ships. Garden Reach Shipbuilders & Engineers or GRSE other MOUs Garden Reach Shipbuilders & Engineers or GRSE's official delegation visit to Norway also led the company signing various Memorandum of Intent (MoI) and Memorandum of Understandings (MoUs) GRSE signed MoI with M/s Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG, Germany for the construction of four (04) follow-on 7,500 DWT Multi-Purpose Vessels. The firm contract for the vessels is expected to be finalized by 31 Aug 2025. Besides GRSE also signed a MoU with M/s Aries Marine, a Dubai based, established and independent engineering and design firm for offshore Platform and vessel design. This MoU aims to facilitate collaboration on identifying and developing offshore orders for platforms designed by Aries and built by GRSE. GRSE also signed MoU with a Global Engine Manufacturer on the same day. Garden Reach Shipbuilders & Engineers or GRSE share price movement Garden Reach Shipbuilders & Engineers or GRSE share price that opened at ₹ 3344.65 with gains of 3% over the previous days close of ₹ 3246, gained further the highs of ₹ 3417.15 which translated in to gains of more than 5% for the Garden Reach Shipbuilders & Engineers or GRSE share price. The Garden Reach Shipbuilders & Engineers or GRSE share price has almost doubled in the year to date on various developments and MOUs improving streets confidence on forwad prospects Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New Indian Express
3 days ago
- General
- New Indian Express
Navy to commission INS Arnala at Visakhapatnam dockyard on June 18
NEW DELHI: The Indian Navy will commission the first of the 16 Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), INS Arnala, at the Naval Dockyard, Visakhapatnam, on June 18. Eight more ASW-SWC warships are being constructed by Cochin Shipyard Limited, Kochi. The indigenous defence manufacturing augments the anti-submarine warfare capabilities of the navy. The contract for the 16 craft was signed in April 2019. The Indian Navy on Friday said, 'The event marks the formal induction of the first of the sixteen ASW-SWC class ships into the Indian Navy. Designed and constructed by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, under a Public-Private Partnership (PPP) with Larsen & Toubro (L&T) Shipbuilders, Arnala is a testament to the success of the Aatmanirbhar Bharat (self reliant India) initiative in defence manufacturing.' The induction ceremony will be presided over by General Anil Chauhan, Chief of Defence Staff, and hosted by Vice Adm Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command. Constructed under the guidance of the Directorate of Ship Production and the oversight of the Warship Overseeing Teams in Kolkata and Kattupalli, Arnala was delivered to the Indian Navy on May 8.
Time of India
3 days ago
- Business
- Time of India
Navy set to induct 1st of 16 desi shallow water craft on June 18
NEW DELHI: The Navy is now set to commission the first of the 16 specialised small warships, designed for anti-submarine warfare and low-intensity maritime operations along the coast, being built at Indian shipyards at an overall cost of Rs 12,622 crore. The first anti-submarine warfare shallow water craft, built by Kolkata-based defence shipyard Garden Reach Shipbuilders & Engineers (GRSE) in collaboration with L&T Shipbuilders, will be commissioned as INS Arnala at Visakhapatnam in the presence of chief of defence staff General Anil Chauhan on June 18. The 77-metre-long craft, with a displacement of 1,490 tonne and equipped with state-of-the-art underwater sensors, is the largest Indian warship till now to be propelled by a diesel engine-waterjet combination. "The warship incorporates over 80% indigenous content and integrates advanced systems from leading Indian defence firms, including Bharat Electronics Limited, L&T and Mahindra Defence," an officer said. GRSE and Cochin Shipyard are each building eight of these warships under twin Rs 6,311 crore contracts inked with them in April 2019. All the warships are supposed to be delivered by 2028. Named after the historic Arnala Fort off Vasai in Maharashtra, the first of these 16 warships reflects India's rich maritime heritage.
The Hindu
4 days ago
- Business
- The Hindu
Navy to commission Anti-Submarine Warfare Shallow Water Craft on June 18
The Indian Navy is all set to commission its Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) Arnala at the Naval Dockyard in Visakhapatnam on June 18. The event will mark the formal induction of the first of 16 ASW-SWC-class ships into the Navy. Designed and constructed by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, under a public-private partnership with L&T Shipbuilders, Arnala was a 'testament to the success of the Aatmanirbhar Bharat (self-reliant India) initiative in defence manufacturing', a release said. 'Constructed under the guidance of the Directorate of Ship Production and oversight of the Warship Overseeing Teams in Kolkata and Kattupalli, Arnala was delivered to the Indian Navy on May 8, 2025,' said a release. The commissioning ceremony will be presided over by Chief of Defence Staff General Anil Chauhan. It will be hosted by Vice-Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command. The warship incorporates more than 80% indigenous content and integrates advanced systems from leading Indian defence firms, including Bharat Electronics Limited, L&T, Mahindra Defence, and MEIL. The project has engaged over 55 Micro, Small, and Medium Enterprises (MSMEs). Designed for a range of anti-submarine warfare operations, Arnala is equipped to conduct sub-surface surveillance, search and rescue missions, and low-intensity maritime operations. The 77-metre-long warship, with a gross tonnage of over 1,490 tonnes, is the largest Indian naval warship to be propelled by a diesel engine-waterjet combination. 'The commissioning of Arnala will mark a transformative moment in India's naval capabilities, strengthening coastal defence and reaffiliate India's position as a self-reliant maritime power in the strategically vital Indian Ocean Region,' it said, adding that it has been named after the historic Arnala Fort off Vasai, Maharashtra. Constructed in 1737 by the Marathas under the leadership of Chimaji Appa, the fort was strategically positioned to oversee the Vaitarna river's mouth, serving as a lookout post over the northern Konkan coast. The crest of Arnala features a stylised auger shell set against a blue backdrop, with the ship's name inscribed in Devanagari script at the base. 'The Auger Shell, known for its spiralled, reinforced structure and precision tip, symbolises resilience, vigilance, survival, and dominance in challenging environments, which mirrors the essence of the ship built to withstand the relentless forces of the ocean and undertake flawless anti-submarine operations with precise ordnance on target,' said an official.
