GRSE shares surge 27% after new contracts and agreements

Shares of Garden Reach Shipbuilders and Engineers Ltd (GRSE) increased by 5% to reach Rs 1,790. This rise allowed the stock to surpass the target price set by Antique Stock Broking at Rs 1,783. In the last week, GRSE's shares have climbed 27.59%. The boost in GRSE's stock price comes after the company signed a contract with Carsten RehderSchiffsmakler and Reederei GmbH in Germany. This deal involves the construction and delivery of the 7th and 8th Multi-purpose vessels (MPV), each with a capacity of 7,500 DWT. The contract aligns with an earlier agreement for four additional vessels from GRSE. The vessels will measure 120 meters long and 17 meters wide. They can carry a maximum of 7,500 metric tonnes of cargo. Each vessel is designed to transport large windmill blades and accommodate various types of cargo. The partnership agreement was signed by Prasenjit Roy, GRSE's Deputy General Manager for Commercial Shipbuilding, and Thomas Rehder, Managing Director of Carsten Rehder. Both companies have expressed commitment to their ongoing collaboration. In other news, GRSE recently signed a memorandum of understanding with the Public Works Department (PWD) in Nagaland for the supply of eight modular steel bridges. GRSE's financial performance in the third quarter also met analyst expectations, showing strong growth and improved margins. Analysts remain optimistic about GRSE's future, citing strong order visibility and a healthy order book expected to grow through FY28.