India's Garden Reach Shipbuilders & Engineers hits record high on Q4 profit surge

Garden Reach Shipbuilders & Engineers

23/05/2024 05:44

** Shares of Garden Reach Shipbuilders & Engineers  GRSE.NS 
surge as much as 19.5% to a record high of 1,424.80 rupees
    ** Stock posts biggest intraday pct gain since August 2023
    ** Co reports over two-fold jump in March-qtr profit at 1.12
bln rupees ($13.5 mln)
    ** Revenue from operations up about 69% to 10.16 bln rupees
    ** More than 5.2 mln shares traded by 10:07 a.m. IST, 2.7x
the 30-day avg
    ** Including session's gain, stock is up 62.2% YTD,
outpacing peer Mazagon Dock Shipbuilders  MAZG.NS , which is up
34.9% 


($1 = 83.2780 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))