Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) surged another 4% today, continuing the momentum from Wednesday’s rally, where the stock had hit a 20% upper circuit. The rally in GRSE, along with other defence and shipping companies such as Cochin Shipyard and Hindustan Aeronautics Ltd (HAL), comes amid a broader recovery in the domestic equity market and a combination of positive developments in the defence sector.
Adding to its strong momentum, GRSE has signed a breakthrough Memorandum of Understanding (MoU) with the Public Works Department (PWD) of Nagaland for the supply of eight Double Lane Modular Steel Bridges. This marks the first-ever MoU between GRSE and a North Eastern state, reinforcing India’s Make in India initiative aimed at regional infrastructure development.
The agreement was formalized on March 19, 2025, in Kohima, with the MoU signed by DIG Subrato Ghosh, ICG (Retd.), Director (Personnel) at GRSE, and Shri Swarai Meru, Chief Engineer of PWD Nagaland, in the presence of Shri Natarajan Partheepan, General Manager (Bailey Bridges), GRSE.
GRSE has an extensive track record of supplying over 5,800 modular bridges to various agencies, including the Border Roads Organisation (BRO), the National Highway Infrastructure Development Corporation Ltd (NHIDCL), multiple state governments, and neighboring countries such as Bhutan, Nepal, Myanmar, Sri Lanka, and Bangladesh.
This new contract is expected to further strengthen GRSE’s role in infrastructure development, particularly in the North Eastern region, facilitating better connectivity and contributing to economic growth. The stock’s strong performance reflects investor confidence in the company’s expanding footprint and growing order book in the defence and infrastructure segments.
