{"id":114218,"date":"2023-11-23T11:51:55","date_gmt":"2023-11-23T06:21:55","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=114218"},"modified":"2023-11-23T11:52:00","modified_gmt":"2023-11-23T06:22:00","slug":"defence-stock-jumps-4-after-it-signed-an-mou-to-develop-electric-tugs-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/defence-stock-jumps-4-after-it-signed-an-mou-to-develop-electric-tugs-check-the-details\/","title":{"rendered":"Defence stock jumps 4% after it signed an MOU to develop electric tugs; Check the details"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3635300433\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><strong> <\/strong>On Thursday&#8217;s early session, shares of one of India&#8217;s premier warship-building companies jumped up to 4 percent to Rs 838 per share, a day after the company signed a Memorandum of Understanding to develop Electric Tugs.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-993885576\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 11:37 a.m., On Thursday, The shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/GRSE\/standalone?standalone=true\" target=\"_blank\" rel=\"noreferrer noopener\">Garden Reach Shipbuilders &amp; Engineers Ltd<\/a><\/strong> were quoted at Rs 823.30 a share, up Rs 18.20 or 2.26 percent on the National Stock Exchange, The company has a market value of Rs 9,428 crores.\u00a0<\/p><p>According to the company\u2019s exchange filing, Garden Reach Shipbuilders and Engineers (GRSE) Ltd signed a Memorandum of Understanding (MoU) with Shift Clean Energy (Shift), Seatech Solutions International (Seatech), and the American Bureau of Shipping (ABS) on November 22, 2023, to develop Electric Tugs E-VOLT 50.&nbsp;<\/p><p>The EVOLT 50 aims to reduce carbon emissions, improve operational efficiency, and set new benchmarks for performance and environmental sustainability in the tugboat industry.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3656779181\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Garden Reach Shipbuilders &amp; Engineers shares have delivered a return of 71 percent in the last six months and 58 percent in a year.&nbsp;<\/p><p>The Company has maintained strong return ratios with a return on equity increased from 15.06 percent in FY22 to 16.13 percent in FY23, while the return on capital employed rose from 19.31 percent to 20.30 percent during the same period.&nbsp;<\/p><p>As per the latest shareholding pattern, The Garden Reach Shipbuilders &amp; Engineers promoters hold a 74.5 percent stake in the company, while Foreign institutional investors hold 3.34 percent and retail investors hold 16.2 percent.&nbsp;<\/p><p>Garden Reach Shipbuilders &amp; Engineers Ltd is a leading shipbuilding company in India under the Ministry of Defence. The company primarily serves the shipbuilding requirements of the Indian Navy and the Indian Coast Guard, For the development of anti-submarine warfare corvettes, survey vessels, offshore patrol vessels, etc.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Omkar Chitnis<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1148406731\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>On Thursday&#8217;s early session, shares of one of India&#8217;s premier warship-building companies jumped up to 4 percent to Rs 838 per share, a day after the company signed a Memorandum of Understanding to develop Electric Tugs.\u00a0 At 11:37 a.m., On Thursday, The shares of Garden Reach Shipbuilders &amp; Engineers Ltd were quoted at Rs 823.30 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":104009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[14245,14618,14244,948,936],"class_list":["post-114218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-garden-reach-shipbuilders-latest-news","tag-garden-reach-shipbuilders-mou","tag-garden-reach-shipbuilders-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Defence stock jumps 4% after it signed an MOU to develop electric tugs; 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