India's Garden Reach Shipbuilders rise on $54 mln order

Garden Reach Shipbuilders & Engineers

24/06/2024 05:14

** Shares of India's Garden Reach Shipbuilders and Engineers
 GRSE.NS  up 6.3% at 1,747.85 rupees after rising as much as
9.3% earlier in the session 
    ** State-owned shipbuilder gets order worth ~$54 million for
construction of four multi-purpose vessels from Germany's
Carsten Rehder Schiffsmakler and Reederei GmbH
    ** If gains hold, GRSE set to snap three-session losing run 
    ** YTD stock has surged 103% after jumping 80% in 2023 - its
third straight annual gain 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))