Garden Reach Shipbuilders Shares Hit 5% Upper Circuit: Did You Know Why?

Garden Reach Shipbuilders Ltd. (GRSE), a state-owned shipyard, has signed two confidential MoUs (Memorandums of Understanding) to develop advanced technologies for the Indian Navy. On July 18 2024, GRSE shares opened at ₹2,589.45 and closed at ₹2,532.45 with a fall of 1.17%. The fall continued on July 19, and the shares closed at ₹2,455.35. However, on July 22, Garden Reach shares gained after signing 2 MoUs

Focus on Composite Materials and New Power Sources

The first MoU involves collaboration with M/s Merlinhawk Aerospace Pvt. Ltd. on projects including:

• Composite doors and hatches for increased durability and weight reduction in naval ships.
• Counter-unmanned aerial vehicle (UAV) solutions utilising Electro-Dynamic Fan Coil System (EDFCS) technology and CRN 91 naval guns. (CRN 91 is the naval version of the Medak 30mm gun).
• Electro-optical Infra-Red Search and Track System (EOIRST) for enhanced surveillance capabilities.
• Composite masts for improved ship performance.
• Hydrogen fuel cell-based power generation for cleaner and more efficient maritime operations.

Collaboration for Underwater Defence

The second MoU, signed with Kerala State Electronics Development Corporation Ltd. (KSEDC), focuses on developing core technologies for advanced underwater surveillance systems, promoting self-reliance in this critical defence sector.

About Garden Reach Shipbuilders Limited

Garden Reach Shipbuilders & Engineers Ltd is a premier shipbuilding company in India under the administrative control of the Ministry of Defence. It primarily caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. The shares of Garden Reach opened at ₹2,420.10 and touched the day high of ₹2,581.50 at 12:36 PM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.