Espresso shot of the day – Garden Reach Shipbuilders and Engineers Ltd up by 9.69 percent

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Espresso shot of the day – Garden Reach Shipbuilders and Engineers Ltd up by 9.69 percent

November 03, 2021
Espresso shot of the day – Garden Reach Shipbuilders and Engineers Ltd up by 9.69 percent

GARDEN REACH SHIPBUILDERS & ENGINEERS LTD 247.45 +21.85 (+9.69%) BSE – INE382Z01011 | 3RD NOVEMBER 2021


The origin of GRSE dates back to 1884. Initially the company was engaged in the business of operating shipbuilding and repair workshops as an unincorporated entity. It was incorporated as “Garden Reach Workshops Limited” on February 26, 1934 under the Companies Act, 1913 with the Registrar of Companies, Calcutta. It was named “Garden Reach Workshops Private Limited” on November 5, 1957. The organization was nationalised in 1960 and was soon brought under the fold of Ministry of Defence. Since then the share capital of the company is wholly owned by the President of India along with its nominees from time to time. Following the government acquisition the company name was changed to “Garden Reach Workshops Limited” on November 30, 1961. The name was again changed to “Garden Reach Shipbuilders & Engineers Limited” on December 31, 1976, following the certificate of incorporation issued by the Registrar of Companies, West Bengal. In a major development in the history of the company, GRSE became a public company after a special resolution of the shareholders at an Annual General Meeting held on August 25, 2017.

Recent Drivers

  • On Oct 7, 2021, Garden Reach Shipbuilders & Engineers Ltd (GRSE) signed a concessional agreement with Syama Prasad Mookerjee Port Trust, formerly Kolkata Port Trust, to use the latter’s facilities for ship repair and refitting.
  • On Sep 9, 2021, Garden Reach Shipbuilders and Engineers Ltd (GRSE), signed a Memorandum of Understanding (MoU) with French defence firm Naval Group to collaborate on surface ships to cater to the requirements of India and global naval forces.
  • On Aug 17, 2021, Garden Reach Shipbuilders & Engineers Ltd (GRSE) registered a sharp jump in net profit at Rs 21 crores.
  • On Aug 17, 2021, the company reported growth in revenue from operations 176% at  Rs 304 crores.
 (Sources: Business Line )


Technical Force*

  • S&P BSE 500 month till date gain up by -0.21
  • Traded on 52 Week High Value 250.15
  • 3 months avg. NSE volume: 4,63,975
  • Quantity traded: 2,41,214 | Deliverable quantity: 75,480 (31.29%)
  • Stock price has jumped more than 45% from one-year low level: 167.55 (April 15, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 250.15 | 52-week-low: 167.55


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

  394.50

 318.85

256.60

180.95

118.70

43.05

-

    -

Fibonacci Pivot

318.85

266.17

233.63

212.67

180.95

149.23

128.27

95.73

43.05


Today’s Close

247.45

SMA

BSE

10 DAY

224.69

20 DAY

220.43

50 DAY

202.99

200 DAY

195.39


Some Key Ratios (Source: BSE)

Market Cap: 2,834.59 crores

PE: 14.86

OPM%: 11.22

ROE%: 16.30

Promoters holding%: 74.50

Prev. Close: 225.60


Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.