GRSE shares erase intraday gains; stock still up 64% YTD; analysts remain positive

Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) surged 4.23 per cent on Thursday to an intraday high of Rs 2,830 but gave up most of the gains, closing marginally higher at Rs 2,715.85. The stock has still risen 64.46 per cent year-to-date (YTD).

The defence PSU recently signed five memorandums of understanding (MoUs) with strategic partners in the shipbuilding, port, and infrastructure sectors.

From a technical standpoint, analysts remain positive on GRSE, citing strong support between Rs 2,550–2,700 and near-term resistance in the Rs 2,800–3,000 zone. A breakout could push the stock toward Rs 3,165.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "GRSE has been steadily gaining momentum after a strong consolidation around the Rs 2,600–2,500 zone. The stock has shown a volume-backed move, reflecting underlying strength. The Rs 2,600–2,550 range is expected to act as strong support in case of any short-term dip, while on the upside, immediate resistance is seen near Rs 3,000 level in the short term."

Sebi-registered analyst AR Ramachandran noted, "GRSE stock price is slightly bullish on daily charts with strong support at Rs 2,640. A daily close above the resistance of Rs 2,800 could trigger an upside target of Rs 3,165 in the near term."

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, observed support lies at Rs 2,700 and resistance at Rs 2,850. "A breakout above Rs 2,850 may lead to Rs 3,000, with the short-term trading range expected between Rs 2,700 and Rs 3,000," Patel added.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 60.30. 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-earnings (P/E) ratio of 55.52 against a price-to-book (P/B) value of 16.89. Earnings per share (EPS) stood at 48.92 with a return on equity (RoE) of 30.42. According to Trendlyne data, GRSE has a one-year beta of 1.6, indicating high volatility.

GRSE, under the administrative control of the Ministry of Defence, is a premier warship-building company for the Indian Navy. As of June 2025, the government holds a 74.50 per cent stake in the firm.