India's Garden Reach Shipbuilders hits record high on profit jump

Garden Reach Shipbuilders & Engineers

16/08/2023 07:58

** Shares of Garden Reach Shipbuilders & Engineers  GRSE.NS 
surge as much as 20% hitting a record high to 789 rupees
    ** Stock also hits record pct gain, on track for a second
consecutive session of gains 
    ** Co on Friday reported June quarter profit rise of 52.8%
to 766.8 million rupees ($9.23 million) 
    ** Revenue from operations rose 30.4% to 7.56 billion rupees
    ** About 9 mln shares traded by 12:25 p.m. IST, vs 30-day
avg of 1.3 mln shares
    ** As of last close, stock up ~36% so far this year



($1 = 83.1004 Indian rupees)

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