Shares of Garden Reach Shipbuilders & Engineers Ltd surged over 9% in early trading on Wednesday, reaching a new 52-week high of ₹3,465.50 on the NSE. As of 9:30 AM, the shares were trading 10% higher at Rs 3,465.50.
The stock opened at ₹3,186.10 and touched an intraday low at the same level before climbing steadily. The day’s high of ₹3,465.50 marks the highest point for the stock in the past year, surpassing its previous 52-week high. The 52-week low stands at ₹1,148.10.
In the meantime, Garden Reach Shipbuilders and Engineers (GRSE) has taken a significant step toward advancing India’s shipbuilding capabilities by signing a deal with Kongsberg, Norway, to build the country’s first Polar Research Vessel (PRV). The agreement was signed in Oslo in the presence of Sarbananda Sonowal, Minister of Ports, Shipping, and Waterways.
The PRV will be used by the National Centre for Polar and Ocean Research (NCPOR) for scientific exploration in the polar and southern ocean regions. This collaboration will provide GRSE with valuable design expertise from Kongsberg, helping India develop this specialized vessel domestically.
GRSE, known for its experience in building complex marine platforms such as warships and research vessels, will construct the PRV at its Kolkata shipyard. This project supports the government’s Make In India initiative by promoting indigenous manufacturing in the strategic shipbuilding sector.
During his visit, Minister Sonowal also engaged with the Norwegian Shipowners Association to explore opportunities for maritime investments. He represented India at a high-level ministerial meeting on the “Role of Shipping in Shaping the Future,” highlighting the country’s growing focus on enhancing its maritime infrastructure and capabilities.
