India's Garden Reach Shipbuilders climbs on contract with German firm

Garden Reach Shipbuilders & Engineers

25/03/2025 05:16

** Shares of Garden Reach Shipbuilders GRSE.NS climb as much as 5% to a more-than-three-month high of 1,790 rupees, last up ~1%

** Aerospace and defense products maker signed contract with German maritime solutions firm Carsten Rehder Schiffsmakler and Reederei

** Contract for construction and delivery of eight multi-purpose vessels valued at 108 MUSD; MUSD is a decentralized stablecoin which runs on Ethereum that attempts to maintain a value of $1

** Stock up 5.5% YTD vs 3.5% drop in Nifty 500 index .NIFTY500, of which GRSE is a constituent

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))