India's Garden Reach Shipbuilders climbs on launching underwater vehicle

Garden Reach Shipbuilders & Engineers

28/07/2023 07:27

** Shares of Garden Reach Shipbuilders & Engineers Ltd
 GRSE.NS  rise as much as 4% to 632 rupees
    ** State-owned defence firm launches autonomous underwater
vehicle that can be used for mine detection, anti-submarine
warfare training, underwater inspection, rescue missions and
scientific exploration
    ** Co says it will launch an unmanned aerial vehicle and
unmanned surface vessel by end of year
    ** Stock trading above its 50-, 100- and 200-day moving
averages since June 2, in bullish trend
    ** Trading volume at ~909,200 shares, 0.6x the 30-day avg of
~1.5 mln shares as of 11:30 a.m. IST 
    ** Stock last up ~27% YTD


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))