Rs 22,652 crore order book: This multibagger shipbuilding stock signs two MoUs to develop UAV solution and Hydrogen fuel cells; bags new order worth Rs 840 crore!
Shares of the company gained more than 180 per cent in the last six months.
Garden Reach Shipbuilders & Engineers Limited (GRSE) has signed two non-binding Memorandums of Understanding (MoUs) to explore potential collaborations. The first MoU is with Merlinhawk Aerospace Private Limited to jointly develop composite doors and hatches, counter UAV solutions, composite masts, and hydrogen fuel cells for naval applications. The second MoU with Kerala State Electronics Development Corporation Limited (KELTRON) aims to collaborate on developing core futuristic technologies for underwater surveillance. These partnerships demonstrate GRSE's strategic focus on expanding its capabilities and exploring emerging technologies for the maritime sector.
Recently, Garden Reach Shipbuilders & Engineers Limited signed a contract with the National Centre for Polar and Ocean Research (NCPOR) for the construction and delivery of a new Ocean Research Vessel (ORV). This domestic project, valued at approximately Rs 840 crore, involves building a single, state-of-the-art ORV within a 42-month timeframe. This win highlights GRSE's expertise in shipbuilding and strengthens India's self-reliance in maritime technology.
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Garden Reach Shipbuilders & Engineers Limited is a premier shipbuilding company in India under the administrative control of the Ministry of Defence, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. The stock has delivered multibagger returns of about 300 per cent in the last one year and 1,800 per cent in the last five years. Additionally, FIIs increased their stake in the company in June 2024. The company is well-positioned for future growth, with a strong order book of Rs. 22,652 crores as of March 31, 2024.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.