Grse Shares Slip 4% Despite Signing Contract To Build 2 Coastal Research Vessels

Shares of Garden Reach Shipbuilders and Engineers (GRSE) Ltd settled little connected Wednesday moreover arsenic nan defence PSU signed a pact pinch nan Geological Survey of India (GSI) for nan building of 2 coastal investigation vessels (CRVs). GSI is simply a geo-scientific agency of nan government.

The banal coming declined 4.15 per cent to adjacent astatine Rs 3,098.95. However, it has rallied 70.23 per cent successful nan past 1 month. "Please mention our missive No. SECY/GRSE/BD-69/CA/04/25-26 dated April 9, 2025, wherein we person communicated astir nan 'Receipt of Letter of Award for Construction and Delivery of Two Coastal Research Vessels for nan Geological Survey of India'. In position of Regulation 30 and different applicable provisions of nan Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to pass you that nan institution has signed nan Contract for Construction of 2 CRVs for nan GSI connected June 11, 2025. There has been nary alteration successful nan Financial Implication of nan Order/ Contract." GRSE stated successful a BSE filing.

"The signing of this statement highlights GRSE's expertise successful nan section of investigation platforms. The shipyard is presently building an Ocean Research Vessel (ORV) for nan National Centre for Polar and Ocean Research (NCPOR), nether nan Ministry of Earth Sciences, Government of India, and an Acoustic Research Ship (ARS) for nan Naval Physical and Oceanographic Laboratory (NPOL), an constitution nether nan Defence Research and Development Organisation (DRDO)," it besides said.

"Each CRV will person a magnitude of 64 meters pinch a width of 12 meters. The deadweight tonnage of each CRV will beryllium astir 450 Tons. The vessels will person an endurance of 15 days pinch a apical velocity of 10 knots. Each vessel will person accommodation for 35 unit connected board," GRSE added.

Bourses BSE and NSE person put nan securities of GRSE nether nan semipermanent ASM (Additional Surveillance Measure) framework. Exchanges spot stocks successful short-term aliases semipermanent ASM frameworks to alert investors astir precocious volatility successful stock prices.

Osho Krishan, Senior Analyst – Technical & Derivative Research astatine Angel One, noted that GRSE has seen a beardown rally recently. "The banal has shown coagulated upward momentum, breaking past guidance levels and moving into overbought territory. Investors should support a trailing extremity nonaccomplishment to fastener successful gains. A cautious stance is recommended astatine present," he stated.

The institution is simply a premier warship-building institution nether nan administrative power of nan Ministry of Defence. As of March 2025, nan authorities held a 74.50 per cent liking successful nan state-owned firm.

Published on: Jun 11, 2025 4:36 PM IST