GRSE shares surge up to 7% on signing of MoU with NHIDCL

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Defence PSU stock GRSE (Garden Reach Shipbuilders & Engineers) on Friday rallied up to 7% to the day’s high of Rs 1,876 after it signed a Memorandum of Understanding (MoU) with National Highway Infrastructure Development Corporation.

The MoU signed on Thursday was for the fabrication, supply, and launching of Double-Lane Class 70 Modular steel & Bailey bridges, according to the press release.


This landmark agreement entails the construction and delivery of Class 70R DoubleLane Bridges, designed exclusively by GRSE, to enhance connectivity in critical forward areas along India's borders, facilitating seamless troop and equipment deployment.

GRSE signed a similar MoU with the Border Roads Organization (BRO), where it has already supplied 44 nos. Bridges Pan -India.


In August 2022, GRSE attained an exclusive distinction by becoming the sole Indian organization qualified for the esteemed Green Channel Certification for Portable Steel Bridges (Bailey Type) from the Indian Army.According to the press release, GRSE's Portable Steel Bridge Division has pushed the boundaries of innovation through intensive research and development efforts, resulting in the creation of superior versions of portable bridge designs.Over 5,700 portable steel bridges have already been supplied by GRSE to esteemed entities such as the Indian Army, Border Roads Organisation, NHIDCL, State Public Works Departments, and the Central Government. These versatile bridges, originally intended for disaster management, have also garnered international recognition, being exported to friendly nations including Bangladesh, Bhutan, Nepal, Myanmar, and Sri Lanka, said the release.In 2024 so far, the share price of GRSE has rallied up to 111%. In the last six months and one year, it went up by 127% and 130% respectively.
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