This multibagger stock signs MoU with Rolls Royce!

The stock has shown positive performance as it has given multibagger returns of 100 per cent in just 1 year and over 84 per cent in 6 months

On Monday, shares of Garden Reach Shipbuilders & Engineers zoomed over 3.5 per cent to make an intraday high of Rs 502.95. The scrp witnessed some profit booking and closed 0.97 per cent down to Rs 481.15.

On January 28, the company informed the exchange, through its press release, that it has signed a Memorandum of Understanding (MOU) with Rolls Royce Solutions of Germany, for manufacture of high quality marine diesel engines. This is a major step aimed towards bolstering the “Make in India” initiative.   

Under the agreement, GRSE and Rolls Royce Solutions will co-operate in the license production and localization of the technologically advanced MTU S4000 governmental marine engines. These engines are compact, reliable and easy to maintain. They are used for Fast Patrol Vessels, Interceptor Boats and Fast Attack Crafts built by GRSE and other shipyards around the country.   

Garden Reach Shipbuilders & Engineers Ltd 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 company is diversified, profit making and the first shipyard in the country to export warships and deliver 100 warships to the Indian Navy and Indian Coast Guard.  

The stock has shown positive performance as it has given multibagger returns of 100 per cent in just 1 year and over 84 per cent in 6 months. Keep a close eye on this trending multibagger stock.