Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) climbed nearly 5% in Tuesday’s session to trade at ₹1,788.00, marking a gain of ₹83.45 or 4.90% compared to the previous close of ₹1,704.55.
The surge comes after the company announced a significant international deal. On March 24, 2025, GRSE signed a contract with Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG for the construction and delivery of the seventh and eighth 7,500 DWT multi-purpose vessels (MPVs). This is part of a series of additional vessels following an earlier agreement between the two parties.
The order, valued at around $108 million, brings the total number of vessels in the agreement to eight. The contract retains its original financial terms.
Each MPV will be 120 metres long and 17 metres wide, capable of carrying 7,500 tonnes of cargo, including bulk goods, general cargo, project cargoes, and containers. These vessels are specially designed to transport multiple large windmill blades on deck.
This latest development underscores GRSE’s expanding footprint in global shipbuilding and boosts its position in the export segment.
