India's Garden Reach Shipbuilders rises on $58.4 mln order

Garden Reach Shipbuilders & Engineers

21/10/2024 05:58

** Shares of Garden Reach Shipbuilders & Engineers  GRSE.NS 
 rise as much as 6% to 1,870 rupees
    ** GRSE on Friday said it received letter of intent for
order worth about 4.91 bln rupees ($58.4 mln)    
    ** More than 1.5 mln shares change hands, 1.2x of 30-day avg
    ** Avg rating of three analysts equivalent of "sell", median
PT is 1,370 rupees - LSEG data
    ** Stock fell 18% in September quarter, the biggest
quarterly drop since March 2020
    ** Stock last up 4.8%, bumping YTD gains to 111.6%
($1 = 84.0680 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))