The share price of Garden Reach Shipbuilders & Engineerrs surged by more than 4% this week after the company signed a contract on June 22, 2024, with M/s Carsten Rehder Schiffsmakler and Reederei GmbH & Co., KG Germany for the construction and delivery of four (04) multi-purpose vessels of 7,500 DWT each, with the option to build another four (04) ships in the near future.
The order is valued at USD 54 million for four vessels and USD 108 million for eight vessels.
In the meantime, on Friday, Garden Reach Shipbuilders & Engineers opened at ₹1,709.50, reaching a high of ₹1,871.00 and a low of ₹1,672.00. The fluctuations reflect investor interest and market volatility, highlighting ongoing trends in the defense sector.
