
Shares of state-run Garden Reach Shipbuilders and Engineers are in focus after the defence major sealed an MoU with Berg Propulsion, a global leader in marine propulsion systems, to enhance its manufacturing capabilities for government projects.
The second MoU, signed on 6th June with SunStoke in Denmark, aims to foster collaboration in building expedition cruise vessels. Both agreements are part of broader efforts to leverage technical expertise and expand the company's operations. Last week, the company also signed three additional MoUs and a Memorandum of Incorporation with various international entities.
The stock slipped 4.07% to ₹3,267 per share during the last trading session. Despite this dip, the stock has shown significant growth, having gained 82% over the past month. The focus remains on the company's recent international engagements, particularly the signing of two Memorandums of Understanding (MoUs) during an official delegation to Sweden and Denmark.
With a substantial order book projected at ₹47,680 crore, including next-generation corvettes, Garden Reach Shipbuilders continues to fortify its market position. The company, primarily focused on shipbuilding contracts, has been proactively expanding its global partnerships.
"The collaboration will leverage the combined capabilities and technical know-how of both organisations," Garden Reach Shipbuilders said. These developments occur amid growing attention on the firm's strategic initiatives within the shipbuilding industry.