Garden Reach Shipbuilders hits record high; jumps over 26% in three days

12 Apr 2022 , 02:17 PM

Shares of GRSE have rallied 26.56% in three sessions. The stock hit a record high of Rs 314.70 in intraday today.

In the past one year, it has surged 72.71% while the benchmark Sensex has added 22.42% during the same period.

On the technical front, the stocks RSI (relative strength index) stood at 80.86. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 233.60, 233.55 and 220.22, respectively.

Net profit of GRSE rose 9.25% to Rs 62.95 crore on 35.39% rise in net sales to Rs 486.88 crore in Q3 December 2021 over Q3 December 2020.

GRSE is a premier shipyard of India, under the administrative control of the Ministry of Defence, Government of India. It builds warships for the Indian Navy & Indian Coast Guard.

Government of India holds 74.50% in the company.

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