Shares of state-run Garden Reach Shipbuilders and Engineers Ltd. are in focus on Monday, June 9, after the company signed two memorandums of understanding (MoUs) during an official delegation visit to Sweden and Denmark.Garden Reach Shipbuilders signed an MoU with Berg Propulsion in Sweden. It is a global leader in the development, manufacturing and supply of marine propulsion systems.
The collaboration will leverage the combined capabilities and technical know-how of both organisations in manufacturing propulsion-related equipment and systems, with a particular focus on the ongoing and future governmental projects, Garden Reach Shipbuilders said.
It signed the second MoU on June 6 with SunStoke, Denmark, which is a leading provider of expedition cruise vessels. The MoU is for future collaboration in expedition cruise vessels.Last week, the company signed three new MoUs and one memorandum of incorporation (MoI) with various international companies for shipbuilding contracts.Garden Reach Shipbuilders’ current order book including next generation corvettes (NGCs) likely to be at ₹47,680 crore.The company’s shares ended 4.07% lower at ₹3,267 apiece during the previous trade session. The stock has gained 82% in the past month.Also Read: Bajaj Finserv block deal: Funds queue up to buy shares of the Bajaj Finance-parent
