Garden Reach Shipbuilders & Engineers (GRSE) Ltd on Tuesday said it received an order worth Rs 840 crore from the National Centre for Polar and Ocean Research (NCPOR) to construct and deliver one ocean research Vessel (ORV). NCPOR is a part of the Ministry of Earth Sciences.
"We wish to inform you that the company has signed the contract with NCPOR for the Construction and Delivery of ORV. The total value of the order/contract is approx. Rs 840 crore," the defence PSU stated in a BSE filing. The project has to be executed within 42 months.
GRSE shares surged 3.66 per cent after the announcement to hit an intraday high of Rs 2,589. The stock eventually settled 2.51 per cent higher at Rs 2,560.25. At this price, the multibagger scrip has delivered 192.88 per cent returns on a year-to-date (YTD) basis.
Around 1.59 lakh shares changed hands on BSE today. The figure was lower than the two-week average volume of 3.35 lakh shares. Turnover on the counter came at Rs 40.23 crore, commanding a market capitalisation (m-cap) of Rs 29,328.18 crore.
On technical setup, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 68.73. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's stock has a price-to-equity (P/E) ratio of 80.08 against a price-to-book (P/B) value of 17.10. Earnings per share (EPS) stood at 31.19 with a return on equity of (RoE) 21.35.
Separately, GRSE has approved changes in senior management by promoting three officers to the grade of General Managers. "Names of the promoted officers are Sanat Datta, Goutam Karmakar, and Cdr. Satish Chandra Jha, IN (Retd.)," it added.
The company is a premier warship-building company, under the administrative control of the Ministry of Defence. As of June 2024, the government held a 74.50 per cent stake in the state-owned firm.