Multibagger defence stock under bear attack ahead of dividend record date, analysts see more pain
Multibagger stock: The defence stock has lost 24% in the last three months, capping gains in the long term.
- Sep 11, 2025,
- Updated Sep 11, 2025 2:56 PM IST
Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) are undergoing correction in the short term. The selling pressure comes right ahead of the defence firm's dividend record date on September 12. GRSE stock has lost 24% in the last three months, capping the multibagger's gain in the long term.
The defence stock climbed 162% in two years and reported a rally of 582% in three years. In the current session, the stock was trading over 2% lower at Rs 2359.05 on BSE.
Market cap of the firm stood at Rs 27,075 crore. On BSE, around 0.73 lakh shares changed hands amounting to a turnover of Rs 17.50 crore.
Garden Reach Shipbuilders stock has a one-year beta of 1.5, indicating very high volatility during the period.
Shares of Garden Reach Shipbuilders fell to their 52-week low of Rs 1180 on March 4, 2025 and hit a 52 week high of Rs 3535 on July 23, 2025.
Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio said, The stock has been in a lower high, lower low formation since peaking near Rs 3,200. Sustained weakness and trading below the 50 EMA show pressure remains on the downside. RSI at 40 indicates weak momentum and no signs of reversal. Short-term view remains negative as long as the stock trades below Rs 2,500– Rs 2,550. A break below Rs 2,200 would open further downside towards Rs 2,000–1,950. Fresh long positions should be avoided until the stock stabilizes above Rs 2,550 with improved volumes and momentum."
A R Ramachandran, SEBI registered Independent analyst expects the losses to extend in the near term.
"GRSE stock price is bearish on the Daily charts with strong resistance at Rs 2455. A Daily close below support of Rs 2,323 could lead to a target of Rs 2116 in the near term," said Ramachandran.
The board of GRSE recommended a final dividend of Rs 4.90 per equity share for the Financial Year 2024-25, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The record date of the dividend is September 12.
Garden Reach Shipbuilders & Engineers is mainly engaged in the construction of warships.
Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) are undergoing correction in the short term. The selling pressure comes right ahead of the defence firm's dividend record date on September 12. GRSE stock has lost 24% in the last three months, capping the multibagger's gain in the long term.
The defence stock climbed 162% in two years and reported a rally of 582% in three years. In the current session, the stock was trading over 2% lower at Rs 2359.05 on BSE.
Market cap of the firm stood at Rs 27,075 crore. On BSE, around 0.73 lakh shares changed hands amounting to a turnover of Rs 17.50 crore.
Garden Reach Shipbuilders stock has a one-year beta of 1.5, indicating very high volatility during the period.
Shares of Garden Reach Shipbuilders fell to their 52-week low of Rs 1180 on March 4, 2025 and hit a 52 week high of Rs 3535 on July 23, 2025.
Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio said, The stock has been in a lower high, lower low formation since peaking near Rs 3,200. Sustained weakness and trading below the 50 EMA show pressure remains on the downside. RSI at 40 indicates weak momentum and no signs of reversal. Short-term view remains negative as long as the stock trades below Rs 2,500– Rs 2,550. A break below Rs 2,200 would open further downside towards Rs 2,000–1,950. Fresh long positions should be avoided until the stock stabilizes above Rs 2,550 with improved volumes and momentum."
A R Ramachandran, SEBI registered Independent analyst expects the losses to extend in the near term.
"GRSE stock price is bearish on the Daily charts with strong resistance at Rs 2455. A Daily close below support of Rs 2,323 could lead to a target of Rs 2116 in the near term," said Ramachandran.
The board of GRSE recommended a final dividend of Rs 4.90 per equity share for the Financial Year 2024-25, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The record date of the dividend is September 12.
Garden Reach Shipbuilders & Engineers is mainly engaged in the construction of warships.