Garden Reach Shipbuilders shares zoom as company signs MoU with NHIDCL

The latest agreement will enhance connectivity in critical forward areas along India's borders, facilitating seamless troop and equipment deployment.

Paras Bisht

August 30, 2024 / 10:44 IST

Garden Reach Shipbuilders share price zooms.

Garden Reach is a premier shipbuilding company under the administrative control of the Ministry of Defence.

26 Aug, 2025 12:21

Volume

Todays L/H

Garden Reach Shipbuilders share price advanced over 2 percent in early trade on August 30 after the company announced signing MoU for supply of double lane modular bridges to National Highway Infrastructure Development Corporation Ltd. (NHIDCL).

Shares of Garden Reach Garden Reach Shipbuilders & Engineers Ltd. (GRSE), one of India's leading shipbuilding companies zoomed to the day's high of Rs 1,794.65 apiece on the NSE, up 2.13 percent. Garden Reach stock gained after three days of consecutive fall.

The company informed the shareholders through an exchange filing that it secured a deal with NHIDCL for the fabrication, supply and launching of Double-Lane Class 70 modular steel & Bailey bridges.

This agreement entails the construction and delivery of Class 70R Double Lane Bridges, designed by GRSE to enhance connectivity in critical forward areas along India's borders, facilitating seamless troop and equipment deployment.

Garden Reach is a premier shipbuilding company under the administrative control of the Ministry of Defence, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. GRSE is a diversified, profit making and the first Shipyard in the country to export warships and deliver 100 warships to the Indian Navy and Indian Coast Guard.