Kolkata: The stock of Garden Reach Shipbuilders & Engineers, popularly referred to as GRSE, is on a roll after reporting robust financial figures and striking an MoU with a Norwegian company to build India’s first polar research vessel. Around 1:30 pm on Thursday (June 5) the GRSE stock stood at Rs 3,464.10, up Rs 110.50 or 3.29%.
The stock was at Rs 1,929.90 on May 5, 2025. So, since then, the stock price has risen Rs 1,539.00 or nearly 80% in the past one month. The 52-week high and low of the stock were recorded at Rs 3,532.20 and Rs 1,148.10 respectively. The run of this stock was partly attributed to the rise in the defense scrips after Operation Sindoor — the four-day military conflict between India and Pakistan following terror elements backed by Pakistan gunned down 25 tourists and one local in Kashmir’s Pahalgam on April 22.
Pink of financial health
GRSE was in the pink of financial health in the January-March quarter of FY25, when it came out with a robust jump in net profit from Rs 111.6 crore in the similar quarter a year ago to Rs 244 crore in Q4 FY25. The revenue jumped 62% (year-on-year) from Rs 1,015.7 crore in Q4 FY24 to Rs 1,642 crore in Q3 FY25.
Following memorandum of understanding with Norwegian firm Kongsberg, it was decided that GRSE will build the country’s first polar research vessel. It will be constructed indigenously in the country and will fulfil the requirements of expeditions in the polar and southern oceans. National Centre for Polar and Ocean Research will conduct these studies. While the vessel will be built at GRSE’s Kolkata facility, it will add a remarkable milestone to the nation’s shipbuilding industry by incorporating cutting edge design expertise.
Overstretched valuation?
Significantly, experts indicated that the stock’s valuation seems overstretched. An analyst said that the significant support levels for the stock seemed to be at Rs 3,000 and Rs 2,800. A pullback is expected, said another.
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The stock of Garden Reach Shipbuilders & Engineers, popularly referred to as GRSE, is on a roll with it recording gains of nearly 80% in the past one month following Operation Sindoor. Analysts feel the valuation seems a bit stretched at these levels. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
