Rs 23,739.59 crore order book: This multibagger shipbuilding company enters into a contract worth USD 1,65,75,210 with Bangladesh Inland Water Transport Authority
The stock has delivered multibagger returns of 165 per cent from its 52-week low and a whopping 600 per cent in 3 years.
On Thursday, shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) were locked in a 10 per cent upper circuit to Rs 1,298.75 per share from its previous closing of Rs 1,180.70. The stock’s 52-week high is Rs 1,520 and its 52-week low is Rs 490.80.
The company has positive news to share regarding a recent contract award. On May 9, 2024, the Government of the People's Republic of Bangladesh issued a Notification of Award to the company for the procurement of a trailing suction hopper dredger. This dredger will have a significant hopper capacity of 1000 cubic meters and will also come equipped with spare parts. The company formally accepted this award on May 16, 2024.
The total value of the contract is USD 1,65,75,210, excluding any applicable taxes. It's important to note that a detailed contract document is currently being finalized and has not yet been signed by both parties. The company will ensure that the stock exchanges are promptly informed once the final contract is signed.
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Garden Reach Shipbuilders & Engineers Ltd is a premier shipbuilding company in India, operating under the administrative control of the Ministry of Defence. It primarily caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.
Order Book Updates: The order book as of March 31, 2024, stands at Rs 22,652.68 crore. This order book mainly consists of orders from the shipbuilding sector comprising Rs 22,593 crore with the P17 Alpha Project having a value of Rs 12,174 crore, the survey vessel large project of Rs 940 crore, the anti-submarine shallow watercraft project of Rs 4,886 crore and the next generation ocean going petrol vessel at Rs 3,359 crore.
The stock has delivered multibagger returns of 165 per cent from its 52-week low and a whopping 600 per cent in 3 years. Investors should keep a close watch on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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