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India Today
3 days ago
- Business
- India Today
GRSE shares jump 10% today: What's fuelling the rally?
Garden Reach Shipbuilders and Engineers (GRSE) shares rose by up to 10% following the signing of a Memorandum of Understanding (MoU) with Kongsberg Oslo. This strategic move has drawn the attention of investors and industry observers. The collaboration aims at developing India's first Polar Research the Bombay Stock Exchange, GRSE shares were trading 5.16% higher at Rs 3,312.50, after hitting an intraday high of Rs 3,464.85. Around 1:05 pm, the shares continued to be 5.16% Minister Sarbananda Sonowal attended the signing ceremony on June 3 in Oslo, emphasising the strategic importance of the deal. The shares of GRSE reflected a 10% increase, showcasing the market's positive response. This agreement represents India's efforts to enhance scientific research capabilities with the construction of the Polar Research Vessel (PRV).The PRV will be equipped with advanced scientific technology to explore marine ecosystems and study the planet's historical and environmental changes. Minister Sonowal highlighted the commitment to scientific progress and sustainable addition to this collaboration, GRSE has emerged as the lowest bidder for the Indian Navy's Next Generation Corvettes (NGC) project, which is valued at over Rs 25,000 crore. This is expected to significantly expand GRSE's order book by constructing five of the eight planned corvettes, reinforcing its role in the defence faced a challenge when the Bangladesh government cancelled a $21 million order for an ocean-going tug. Nonetheless, GRSE's stock performance remains strong, showing a 100% increase this year and a 629% rise over the past two this, analysts hold a 'Hold' rating on the stock due to an average target price of Rs 2,341, suggesting a potential downside of nearly 30% from current his Oslo visit, Minister Sonowal participated in discussions on ocean business, aligning with India's "MAHASAGAR" initiative—Growth for All, which reflects broader objectives to enhance maritime capabilities and sustainable analysts recommend caution with a 'Hold' rating on GRSE shares, the long-term outlook remains promising as the government invests in the defence and research sectors. This strategic partnership, complemented by potential defence contracts, is expected to support GRSE's growth path.(Disclaimer: 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.)
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
Business Upturn
3 days ago
- Business
- Business Upturn
Garden Reach shares jump 10% to hit new 52-week high; Check details
Shares of Garden Reach Shipbuilders & Engineers Ltd surged over 9% in early trading on Wednesday, reaching a new 52-week high of ₹3,465.50 on the NSE. As of 9:30 AM, the shares were trading 10% higher at Rs 3,465.50. The stock opened at ₹3,186.10 and touched an intraday low at the same level before climbing steadily. The day's high of ₹3,465.50 marks the highest point for the stock in the past year, surpassing its previous 52-week high. The 52-week low stands at ₹1,148.10. In the meantime, Garden Reach Shipbuilders and Engineers (GRSE) has taken a significant step toward advancing India's shipbuilding capabilities by signing a deal with Kongsberg, Norway, to build the country's first Polar Research Vessel (PRV). The agreement was signed in Oslo in the presence of Sarbananda Sonowal, Minister of Ports, Shipping, and Waterways. The PRV will be used by the National Centre for Polar and Ocean Research (NCPOR) for scientific exploration in the polar and southern ocean regions. This collaboration will provide GRSE with valuable design expertise from Kongsberg, helping India develop this specialized vessel domestically. GRSE, known for its experience in building complex marine platforms such as warships and research vessels, will construct the PRV at its Kolkata shipyard. This project supports the government's Make In India initiative by promoting indigenous manufacturing in the strategic shipbuilding sector. During his visit, Minister Sonowal also engaged with the Norwegian Shipowners Association to explore opportunities for maritime investments. He represented India at a high-level ministerial meeting on the 'Role of Shipping in Shaping the Future,' highlighting the country's growing focus on enhancing its maritime infrastructure and capabilities. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
