Garden Reach Shipbuilders Share Price Surges 9% Following Major Lease Agreement with Kolkata Port

Market Performance

Garden Reach Shipbuilders & Engineers Ltd (GRSE) has witnessed a significant jump in its stock price, gaining over 9% during Monday's morning trades. The surge comes from an important development: the company has signed a long-term lease agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) for the Timber Pond at Howrah, West Bengal.

Main News

• Lease Agreement Details

On Friday, April 25, 2025, GRSE's Board of Directors approved a 30-year, non-renewable lease with SMPK. The lease pertains to a land parcel at Timber Pond, providing valuable waterfront access. This strategic move aligns with GRSE's long-term vision to bolster its infrastructure in response to the rising demand in domestic and export markets.

• Company's Growth Strategy

The lease agreement is expected to support GRSE's shipbuilding, ship repair, and engineering initiatives, further solidifying its role in the industry. While the revenue impact of this agreement hasn't been disclosed, it is anticipated to contribute positively to the company's growth prospects.

Garden Reach Shipbuilders Share Price Movement

• Price Movement Overview

On Monday, GRSE shares opened at ₹1626.55 on the Bombay Stock Exchange (BSE). The stock saw a significant uptick during the day, reaching an intraday high of ₹1763, reflecting a gain of nearly 9%. The stock has been on an upward trajectory, rising more than 15% since the start of April 2025.

Company Details

• Company Name: Garden Reach Shipbuilders & Engineers Ltd
• Industry: Shipbuilding and Engineering
• Stock Exchange: BSE
• Recent Stock Performance:
  • Opening Price: ₹1626.55
  • Intraday High: ₹1763
  • Growth: 9% increase during Monday's morning trade
  • 15% increase from early April 2025 lows

Summary of the Article

Garden Reach Shipbuilders & Engineers Ltd has experienced a sharp 9% increase in its share price following the announcement of a long-term lease agreement with Syama Prasad Mookerjee Port, Kolkata. The lease for the Timber Pond land will enhance GRSE's infrastructure, providing better access for shipbuilding and engineering projects. Though revenue details from the lease are not disclosed, the move is expected to support GRSE's long-term growth strategy. The company's share price has been on a strong upward trend, reflecting growing investor confidence.