GRSE shares zoom 10% to hit record high; here's what technical charts hint at

Shares of Garden Reach Shipbuilders & Engineers (GRSE) Ltd jumped 10 per cent to touch their all-time high of Rs 3,464.85 in Wednesday's trade. The sharp uptick came after the Kolkata-based defence firm signed a memorandum of understanding (MoU) with Norway's Kongsberg for the construction of India's first-ever polar research vessel (PRV).

Bourses BSE and NSE have put the securities of GRSE under the long-term ASM (Additional Surveillance Measure) framework. Exchanges place stocks in short-term or long-term ASM frameworks to alert investors about high volatility in share prices.

A few analysts remained positive on the counter. Ravi Singh, SVP - Retail Research at Religare Broking, suggested that the stock looked strong on daily charts and it could reach Rs 3,550 level in the near term. He advised to keep a stop loss placed at Rs 3,250.

Jigar S Patel, Senior Manager (Technical Research Analyst at Anand Rathi), said, "Support will be at Rs 3,200 and resistance at Rs 3,500. A decisive move above Rs 3,500 level may trigger a further upside towards Rs 3,600. The expected trading range will be between Rs 3,100 and Rs 3,600 for the short term."

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 82.26. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-earnings (P/E) ratio of 97.59 against a price-to-book (P/B) value of 20.91. 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 1.6, indicating high volatility.

The company is a premier warship-building company under the administrative control of the Ministry of Defence. As of March 2025, the government held a 74.50 per cent stake in the state-owned firm.