India's Garden Reach Shipbuilders gains on order win

Garden Reach Shipbuilders & Engineers

06/12/2024 04:20

** Garden Reach Shipbuilders  GRSE.NS  gains 2.3% to 1,800
rupees; set to gain for second straight week
    ** Aerospace and defense products maker signs contract for
construction and delivery of second ship from series of 4
additional vessels of 7,500 deadweight tonnage each
    ** Naval Physical and Oceanographic Laboratory's Oct. 18
order valued at 4.91 bln rupees ($58 mln)
    ** Stock rated "hold" on avg; median PT is 1,500 rupees -
LSEG
    ** GRSE has more than doubled YTD; eyes best yearly gain
since 2022

($1 = 84.6530 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com))