GRSE bags order worth Rs 490 crore; stock down 3%

Garden Reach Shipbuilders & Engineers (GRSE) Ltd on Wednesday said it secured a Rs 489.98 crore order from the government to construct and deliver two coastal research vessels.

"We wish to inform you that the company has received a Letter of Award on April 8, 2025, for the construction and delivery of two Coastal Research Vessel for the Geological Survey of India," the defence PSU stated in a BSE filing. The contract has to be executed within 36 months.

On the stock-specific front, GRSE was last seen trading 2.60 per cent lower at Rs 1,523.65. At this price, the stock has shed 7.74 per cent on a year-to-date (YTD) basis. Around 18,000 shares changed hands today at the time of writing this story. The figure was lower than the two-week average volume of 90,000 shares. Turnover on the counter came at Rs 2.80 crore, commanding a market capitalisation (m-cap) of Rs 17,453.72 crore.

Technically, the scrip traded lower than the 5-day, 10-, 20-, 100-, 100-day and 150-day simple moving averages (SMAs) but higher than the 30-day and 50-day SMAs. Its 14-day relative strength index (RSI) came at 47.22. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-equity (P/E) ratio of 44.22 against a price-to-book (P/B) value of 9.47. Earnings per share (EPS) stood at 34.46 with a return on equity (RoE) of 21.43. According to Trendlyne data, GRSE has a one-year beta of 1.8, indicating high volatility.

The company is a premier warship-building company, under the administrative control of the Ministry of Defence. As of December 2024, the government held a 74.50 per cent stake in the state-owned firm.