GRSE, Apollo Micro shares in focus today, here's why 

Shares of Garden Reach Shipbuilders & Engineers Limited & Apollo Micro Systems Limited are in news today after the firms inked a Memorandum of Understanding (MoU) for five years. The MoU aims to establish a business partnership for the joint research and development (R&D), co-production, export of Underwater Weapons & Vehicles, Underwater Mines, Underwater Communication Systems and Air Defence Systems and supply of advanced weapons and electronic systems for both defence and non-defence industries.

Garden Reach Shipbuilders shares ended 2.17% higher at Rs 1,539.90 on Wednesday against the previous close of Rs 1507.20. Market cap of the firm climbed to Rs 17,639.86 crore. 

The MoU is aimed at the development and production of cutting-edge technologies, including:

· Underwater Weapons and Vehicles

· Underwater Mines and Communication Systems

· Air Defence Systems and Vehicles

"A key aspect of this partnership is leveraging and enhancing the manufacturing infrastructure of both companies to produce critical components and sub-assemblies for these systems. Additionally, the collaboration will provide services for the modernization and upgrade of existing systems, ensuring they remain state-of-the-art and meet evolving requirements. The partnership will address the growing demands of the Defence, Aerospace, and Commercial markets, both domestically and internationally," said Apollo Micro Systems. 

Meanwhile, Apollo Micro Systems shares ended 4.33% higher at Rs 124.10 on BSE in the previous session. Market cap of the firm climbed to Rs 3,803 crore on Wednesday.