GRSE signs additional contract with Germany-based firm

PSU stock, Garden Reach Shipbuilders and Engineers Ltd (GRSE) shares are in focus on Tuesday, March 25, as the company has signed another contract with a German company.

On Monday, March 24, the PSU firm said it had signed a deal with Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG for the building and delivery of the seventh and eighth 7,500 DWT multi-purpose vessels (MPVs).

In Hamburg, Germany, the treaty was finalised on March 24, 2025. Bringing GRSE's total order to eight vessels, this agreement follows the 'option agreement' between the two parties for the acquisition of four further MPVs

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With no change in financial terms, the total contract value stays about $108 million. Every MPV will be 17 meters wide and 120 metres long with a maximum draft of 6.75 metres.

Its payload capacity is 7,500 tonnes. Containers will be carried on hatch covers; every ship will have one cargo hold to fit bulk, general, and project cargoes. These vessels are meant to hold many big windmill blades on deck.

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The shares of the company have surged 118% and outperformed their sector by 42% in the past year. Meanwhile, the stock offered a whopping 637% return in the last three years.

However, shares of GRSE are currently trading low by 0.85% at Rs 1,703.75 as of 11:47am on Tuesday.

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