Latest news with #JigarSPatel
News18
3 days ago
- Business
- News18
GRSE Shares Surge 10% On Norways Polar Research Vessel Order; Stock Zooms 194% From March Low
Last Updated: Multibagger defence stock Garden Reach Shipbuilders & Engineers (GRSE) surged nearly 10% in intra-day trading on Wednesday GRSE Stock Price: Multibagger defence stock Garden Reach Shipbuilders & Engineers (GRSE) surged nearly 10% in intra-day trading on Wednesday, June 4, hitting its upper circuit limit and marking a fresh 52-week high. This surge follows a significant order win from Norway-based Kongsberg. Since March 2025, GRSE has delivered a staggering 194% gain, outperforming the broader market for the fourth month in a row. According to an official statement, the partnership between GRSE and Kongsberg will enable India to build its first-ever indigenously developed Polar Research Vessel (PRV). 'The MoU between GRSE and Kongsberg marks an important milestone for India's shipbuilding sector, bringing in design expertise for the PRV to meet the needs of the National Centre for Polar and Ocean Research (NCOPR)," the statement said. With its proven track record in constructing complex maritime platforms, such as warships and research vessels, GRSE will build this PRV at its Kolkata yard, bolstering the government's Make in India initiative. GRSE Stock Performance The defence PSU's stock opened at Rs 3,184, higher than its previous close of Rs 3,149.90. It climbed further to Rs 3,464.85, up 9.99%. The rally in GRSE shares aligns with broader gains in defence counters following Operation Sindoor. The stock has surged 104% year-to-date (YTD) and is up 168% in just three months. According to Jigar S Patel, Senior Manager – Technical Research at Anand Rathi Shares and Stock Brokers, GRSE appears overextended at the current level, having rallied around 192% from its March low of Rs 1,185. In the March quarter of FY25, GRSE reported a strong net profit of Rs 244 crore, a sharp rise from Rs 111.6 crore a year earlier. Revenue grew 62% year-on-year to Rs 1,642 crore, up from Rs 1,015.7 crore. On the operational front, EBITDA jumped 145% to Rs 220.95 crore from Rs 90.35 crore a year ago. Operating margins improved to 13.5% from 8.9%. The company's board has recommended a final dividend of Rs 4.9 per share for FY25, pending shareholder approval at the upcoming AGM. Cmde Hari PR, IN (Retd), Chairman and Managing Director of GRSE, commented: 'Happy to report yet another set of strong numbers. With our robust order book, mature execution of ongoing projects, and growing visibility in defence and commercial shipbuilding, I'm confident of an even stronger performance this year." Over the past month alone, GRSE shares have jumped more than 60%, far outpacing the Nifty 50 index, which managed only a 0.3% rise in the same period. First Published: June 04, 2025, 12:51 IST
India Today
23-05-2025
- Business
- India Today
Reliance Power Ltd share price rises over 18%. Should you buy?
Shares of Reliance Power Ltd saw a strong jump of 18.66% on Friday, reaching a high of Rs 52.90 during the day. At the last update, the stock was trading 17.90% higher at Rs 52.57. With this rise, the share has gone up 17.53% so far in Power has gained 20.77% in the last month, 51.98% over the last six months, and 99.13% over the past year. Over the last five years, it has gone up by a massive 2,820.56%.One of the main reasons for the rise in Reliance Power's stock price is its recent partnership with Bhutan's Druk Holding and Investments (DHI).The two companies will set up India's largest solar power project through a Rs 2,000 crore joint venture. The project will have a capacity of 500 megawatts (MW) and will be developed under a 50:50 partnership. It will follow a Build-Own-Operate (BOO) a statement, Reliance Power said, 'The landmark solar investment in Bhutan underscores Reliance Group's strategic focus on expanding its renewable energy portfolio, while reinforcing its long-term commitment to strengthening India-Bhutan economic cooperation. Reliance Power's total clean energy pipeline stands at 2.5 gigawatts peak (GWp) in the solar segment, making it India's largest player in the integrated solar and Battery Energy Storage System (BESS) segment.'Market experts believe that the rise in Reliance Power's share price may be linked to overall positive developments in the power and renewable energy Bathini, Director of Equity Strategy at WealthMills Securities, said that the stock could be gaining due to these favourable conditions. However, he also warned that the stock has destroyed investor wealth in the past and is only suitable for those with a high-risk analyst Jigar S Patel from Anand Rathi said that the stock has support at Rs 48 and resistance at Rs 53. 'A decisive move above Rs 53 level may trigger a further upside towards Rs 56. The expected trading range will be between Rs 46 and Rs 53 for the short term,' he share is trading above all major simple moving averages (SMAs) — including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day averages. This suggests a strong positive 14-day Relative Strength Index (RSI) of the stock is 75.88. An RSI above 70 is considered overbought, which means the stock might be due for a to BSE data, Reliance Power's price-to-earnings (P/E) ratio stands at 327.81, which is very high. Its price-to-book (P/B) value is 2.29. The company's earnings per share (EPS) is 0.16, and return on equity (RoE) is 0.71%. These figures suggest that the company is still in the early stages of financial data shows that the stock has a one-year beta of 1.3. This means it is highly volatile and may see large swings in of May 7, 2025, the promoters held a 24.98% stake in Reliance Power, which is led by Anil The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Trending Reel
