GRSE shares rally 60% in 2025 so far; is more steam left?

Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) extended their gains for the second consecutive session on Thursday, rising 4.74 per cent to hit a high of Rs 2,727.50. The counter was last seen trading 1.24 per cent up at Rs 2,636.25. At this level, it has gained 59.64 per cent on a year-to-date (YTD) basis. 

From a technical standpoint, a few analysts see GRSE in a strong uptrend, with support around Rs 2,330–2,450 and potential upside targets between Rs 2,860 and Rs 3,130, if it sustains above key resistance levels.

Kunal Kamble, Senior Technical Research Analyst at Bonanza, noted that GRSE, near Rs 2,318, has formed a bottom after a prolonged decline. The stock is trading above all key exponential moving averages (EMAs), confirming a strong uptrend. The rising RSI also supports the bullish momentum. As long as it holds above Rs 2,330, it could move towards Rs 2,860 and further to Rs 3,130.

Sebi-registered analyst AR Ramachandran highlighted that GRSE remains bullish on daily charts with strong support at Rs 2,450. A decisive close above Rs 2,638 may open the way for a near-term target of Rs 2,975.

The scrip traded lower than the 100-day simple moving average (SMA) but higher than the 5-day, 10-, 20-, 30-, 50-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 56.65. 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 53.87 against a price-to-book (P/B) value of 16.39. 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.