Garden Reach Shipbuilders zooms ~5% on securing $62 Million order

22 Sep 2025 , 02:07 PM

Shares of Garden Reach Shipbuilders & Engineers Ltd. (GRSE) jumped as much as 5% on September 22 after the company announced two major developments.

At around 1.57 PM, Garden Reach Shipbuilders was trading 2.45% higher at ₹2,669 per piece, against the previous close of ₹2,605.30 on NSE. The counter rose to an intraday high of ₹2,760.

Garden Reach announced that it has entered into a $62 million agreement with Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. The agreement underlines the construction of four Hybrid Multi-Purpose Vessels (MPVs), along with a provision for building additional two vessels.

Furthermore, the company announced that it expects to complete the project within a period of 33 to 42 months.

This agreement is an organic extension of the celebrated partnership between GRSE and Carsten Rehder, after the 7,500 DWT project ongoing in Kolkata.

According to the company, these 4 new hybrid MPVs highlight GRSE’s increasing footprint in green and commercial shipbuilding. 

As per the details shared by the company, these vessels will have 120 metres of length, 17 metres width. It has a maximum draft of 6.75 metres. Also, it is capable of holding 7,500 metric tonnes of cargo in one go. Hence, suitable for bulk, general, and project cargoes.

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