Multibagger stock: This aerospace and defence company bags a new order from the Ministry of Defence worth Rs 3,500 crore!
The stock has gained over 25 per cent in the last six months.
On March 31, 2023, Garden Reach Shipbuilders & Engineers Limited informed in the exchange filing that the company has signed a contract with the Ministry of Defence for the construction of 4 Next Generation Offshore Patrol Vessels today. The total Project Cost of 04 GRSE Vessels is Rs 3,500 crore. The first Vessel is to be delivered within 44 months from Contract Signing and subsequent Vessels at 06 months intervals. The subsequent ships are to be delivered at six months interval period from the delivery of the previous ship.
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.
On Friday, the stock opened at Rs 463.40 and made a high and low of Rs 474.05 and Rs 452.30. The stock closed trading at Rs 455.45, up by 5.49 per cent. The stock has delivered multibagger returns of over 100 per cent in the last one year.
The scrip is a part of group A with a market capitalization of Rs 5230.44 crore. The stock has a 52-week high of Rs 556.80 and a 52-week low of 207.75. The company has a ROCE of 20.5 per cent and an ROE of 15.1 per cent.