Garden Reach Shipbuilders shares in news today on fresh order win 

Shares of warship-maker Garden Reach Shipbuilders & Engineers Ltd are in focus on Thursday after the firm said it has received a $54-million order for the construction and delivery of four additional multi-purpose vessels from Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co.

Shares of Garden Reach Shipbuilders ended on a flat note on Wednesday at Rs 1717.25 on BSE. Market cap of Garden Reach Shipbuilders stood at Rs 19,671 crore. 

The multibagger stock clocked a turnover of Rs 6.44 crore as 0.37 lakh shares changed hands on BSE. Garden Reach Shipbuilders shares fell to their 52-week low of Rs 648.05 on October 26, 2023 and hit a 52 week high of Rs 2834.60 on July 5 this year. Garden Reach shares have a beta of 1.3, indicating high volatility in a year.

Shares of Garden Reach are trading above their 150 day, 200 day but lower than the 10 day, 20 day, 30 day, 50 day and 100 day moving averages. 

"...we would like to inform that on 18 Sep 2024, the company has received a confirmation from the customer to buy and deliver additional four (04) Multi-Purpose Vessels, on the existing terms and conditions," the company said in a stock exchange filing.

The vessels will be designed, built, and delivered over a period of 33 months from the original contract signing date. The deal does not involve any related party transactions.