Even as the ongoing US-Iran war kept the Indian stock market under pressure in Friday’s session, March 6, shares of Garden Reach Shipbuilders & Engineers (GRSE) jumped 7% to reach the day’s high of ₹2,576 apiece following a key collaboration with Kalyani Strategic Systems Limited (KSSL).
The defense PSU major opened the session higher at ₹2,432 apiece, compared to the previous close of ₹2,409 apiece, and held on to the momentum to hit ₹2,576 apiece, marking the highest level since February 10.
Why did GRSE share price gain today?
The company on Thursday announced that it had signed a Memorandum of Understanding (MoU) with Kalyani Strategic Systems Limited (KSSL) to jointly develop and promote indigenous solutions for advanced naval systems, unmanned platforms, and other strategic maritime capabilities for domestic and global markets.
KSSL is a leading defense OEM in the design and manufacture of advanced defense platforms and systems, while Garden Reach Shipbuilders is a premier shipbuilding company in India under the administrative control of the Ministry of Defence.
“The partnership envisions collaborative efforts to deliver indigenous solutions across a broad spectrum of maritime and defense systems, encompassing ship propulsion and mechanical systems for both naval and commercial vessels, integrated platform management systems, steering and stabilizer assemblies, deck equipment, as well as unmanned platforms, including Unmanned Surface Vessels (USVs) and Autonomous Underwater Vehicles (AUVs),” the company said in its earnings filing.
The collaboration will also seek to identify and pursue opportunities within India and in other mutually agreed international markets.
GRSE share price trend
GRSE share price has remained volatile since reaching a new all-time high of ₹3,538 apiece in June 2025. At current levels, the stock is trading 27% below that level.
Though the stock’s short-term trend appears weak, it has delivered massive returns to its long-term investors, as it closed each of the last five years in the positive.
During this period, it has gained from ₹194 a piece to ₹2,444 apiece, delivering a massive return of 1,228%. Amid extreme volatility, the stock in the current year so far has gained only 4%.
Disclaimer: : We advise investors to check with certified experts before making any investment decisions.
