GRSE Signs Contract for 04 NGOPVs : Order Book surges by Rs. 3,500 crore

Garden Reach Shipbuilders & Engineers Ltd. (GRSE), a Miniratna Category 1, Defence PSU, signed a contract with the Ministry of Defence for construction of 04 Next Generation offshore Patrol Vessels today. The Total Project Cost of 04 GRSE Vessels is around ₹3,500/- crore. The first Vessel is to be delivered within 44 months from Contract Signing and subsequent Vessels at 06 months intervals.

The Contract was signed between JS&AM (M&S, Ministry of Defence), Shri Dharmendra Kumar Singh, IA & AS (2000) and Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding), GRSE in the presence of Shri Pankaj Agarwal, IAS, DG (Acquisition), Cmde PR Hari. IN(Retd.), CMD GRSE, RAdm S Mehta, ACWP&A, Indian Navy and other senior officials of Ministry of Defence, Indian Navy & GRSE. The length of the NGOPVs will be 110 m (Approx) with displacement around 2900 Tons and max speed more than 23 knots. The NGOPV should be capable of fulfilling roles such as Seaward Defence, 'Out of Area' Contingency Ops (OOAC), NonCombatant Evacuation Ops (NEO), Convoy Operations/Anti-Piracy Missions, Counter Infiltration Ops, Anti-Poaching/Trafficking, HADR, Search and Rescue Missions, Hospital Ship, Fleet Maintenance Support and COMINT Ship.

Shares of Garden Reach Shipbuilders & Engineers Limited was last trading in BSE at Rs. 431.75 as compared to the previous close of Rs. 401.05. The total number of shares traded during the day was 54525 in over 2458 trades.

The stock hit an intraday high of Rs. 439.55 and intraday low of 398.90. The net turnover during the day was Rs. 23103060.00.

Source : Equity Bulls

Keywords

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