GRSE shares jump 5% to hit fresh all-time high; here's why
The state-run firm, in a BSE filing, said it has signed a memorandum of intent (MoI) with Carsten Germany-based Rehder Schiffsmakler und Reederei GmbH & Co KG for the construction of four follow-on 7,500 DWT multi-purpose vessels.
- Jun 5, 2025,
- Updated Jun 5, 2025 10:19 AM IST
Shares of Garden Reach Shipbuilders & Engineers (GRSE) Ltd surged 4.81 per cent in Thursday's trade to hit a new record high of Rs 3,520. Today's sharp uptick came after the Kolkata-based defence firm said it has signed multiple pacts with global players.
The state-run firm, in a BSE filing, said it has signed a memorandum of intent (MoI) with Carsten Germany-based Rehder Schiffsmakler und Reederei GmbH & Co KG for the construction of four follow-on 7,500 DWT multi-purpose vessels.
"These vessels will be built as a continuation of the eight vessels currently under construction at GRSE's Kolkata shipyard. The follow-on vessels will feature hybrid propulsion systems and comply with the latest cybersecurity standards. The firm contract for these vessels is expected to be finalised by August 31, 2025," the company added.
GRSE also entered into a memorandum of understanding (MoU) with Dubai-based Aries Marine for offshore platform and vessel design. "This is to extend the worldwide reach of GRSE in the offshore market. This MoU aims to facilitate collaboration on identifying and developing offshore orders for platforms designed by ARIES and built by GRSE," it stated.
In addition, it signed a pact with a Global Engine Manufacturer.
The company is a premier warship-building company under the administrative control of the Ministry of Defence. As of March 2025, the government held a 74.50 per cent stake in the state-owned firm.
Bourses BSE and NSE have put the securities of GRSE under the long-term ASM (Additional Surveillance Measure) framework. Exchanges place stocks in short-term or long-term ASM frameworks to alert investors about high volatility in share prices.
Shares of Garden Reach Shipbuilders & Engineers (GRSE) Ltd surged 4.81 per cent in Thursday's trade to hit a new record high of Rs 3,520. Today's sharp uptick came after the Kolkata-based defence firm said it has signed multiple pacts with global players.
The state-run firm, in a BSE filing, said it has signed a memorandum of intent (MoI) with Carsten Germany-based Rehder Schiffsmakler und Reederei GmbH & Co KG for the construction of four follow-on 7,500 DWT multi-purpose vessels.
"These vessels will be built as a continuation of the eight vessels currently under construction at GRSE's Kolkata shipyard. The follow-on vessels will feature hybrid propulsion systems and comply with the latest cybersecurity standards. The firm contract for these vessels is expected to be finalised by August 31, 2025," the company added.
GRSE also entered into a memorandum of understanding (MoU) with Dubai-based Aries Marine for offshore platform and vessel design. "This is to extend the worldwide reach of GRSE in the offshore market. This MoU aims to facilitate collaboration on identifying and developing offshore orders for platforms designed by ARIES and built by GRSE," it stated.
In addition, it signed a pact with a Global Engine Manufacturer.
The company is a premier warship-building company under the administrative control of the Ministry of Defence. As of March 2025, the government held a 74.50 per cent stake in the state-owned firm.
Bourses BSE and NSE have put the securities of GRSE under the long-term ASM (Additional Surveillance Measure) framework. Exchanges place stocks in short-term or long-term ASM frameworks to alert investors about high volatility in share prices.