Garden Reach Shipbuilders Share Price Hits Record High After Pact with Norway’s Kongsberg

Market Performance

Garden Reach Shipbuilders & Engineers (GRSE) surged 10% to hit a fresh 52-week high of ₹3,464.85 on June 4. The stock opened at ₹3,184, up from its previous close of ₹3,149.90, and locked in the upper circuit limit.

Key Stock Highlights:

• Year-to-Date (YTD) Gain: 104%
• 3-Month Surge: 168%
• Latest High: ₹3,464.85 (Upper Circuit)

Main News: GRSE Signs MoU with Norway's Kongsberg

GRSE has entered into a MOU with Kongsberg Maritime, a Norway-based company, to build India's first indigenous Polar Research Vessel (PRV).

Key Details of the Agreement:

• The PRV will support research activities by the National Centre for Polar and Ocean Research.
• Kongsberg will provide design expertise, while GRSE will construct the vessel at its shipyard in Kolkata.
• The project aligns with India's "Make in India" initiative, boosting domestic shipbuilding capabilities.

Company Overview: Garden Reach Shipbuilders (GRSE)

GRSE is a leading defense PSU specializing in:

• Warships
• Survey & Research Vessels
• Maritime Platforms

The company has a strong track record in constructing complex naval vessels, making it a key player in India's defense sector.

Summary

• GRSE shares surged 10% to a record high after signing an MoU with Norway's Kongsberg.
• The partnership will enable India to build its first indigenous polar research vessel (PRV).
• The stock has delivered 104% year-to-date (YTD) returns and 168% gains in just three months.
• The project reinforces GRSE's expertise in advanced shipbuilding and supports "Make in India."

This strategic collaboration positions GRSE as a key contributor to India's defense and research capabilities.