Garden Reach Shipbuilders - Oct 15, 2020 - Angel Broking

Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd

"Garden Reach Shipbuilders & Engineers Ltd (GRSEL) is mainly engaged in construction of war ships. GRSEL was successful in delivering 105 ships till date. Current, healthy order book at Rs265.4bn (19x FY20 sales) which provides revenue visibility going forward. Going forward, we expect significant improvement in margin due to strong order execution, operational efficiencies and introduction of technology. GRSEL has a robust balance sheet including net cash of Rs26.7bn. The company is trading at reasonably lower valuations. Hence, we are positive on stock."

Shares of Garden Reach Shipbuilders & Engineers Ltd was last trading in BSE at Rs.198 as compared to the previous close of Rs. 200.55. The total number of shares traded during the day was 1771 in over 109 trades.

The stock hit an intraday high of Rs. 201.7 and intraday low of 198. The net turnover during the day was Rs. 354043.

Source : Equity Bulls

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