Shares of Garden Reach Shipbuilders & Engineers Limited (GRSE) surged by 3.03% to ₹1,583.90 after the company signed a five-year Memorandum of Understanding (MoU) with Apollo Micro Systems Limited (AMS). This collaboration focuses on joint research, development, and supply of advanced weapons and electronic systems, enhancing indigenous defence manufacturing in India.
The strategic partnership will target key areas such as underwater weapons, vehicles, mines, communication systems, and air defence solutions. Both companies plan to leverage their combined infrastructure to develop critical components and sub-assemblies, catering to both defence and non-defence sectors. The agreement also includes modernization and upgrade services for existing defence technologies, aligning with India’s goal of self-reliance and indigenization in the defence industry.
Analysts see this partnership as a significant opportunity for GRSE to further expand its order book and revenue base, especially given the increasing focus on defence modernization and export-oriented projects. Investors have shown optimism toward the deal, evident in the stock’s positive performance.
Stock Performance: The stock traded within a day range of ₹1,536.95 to ₹1,582.40, with a market capitalization of ₹180.99 billion and strong investor activity.
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