GRSE shares jump 4% on emerging as L1 bidder for Rs 25,000 cr Indian Navy project
[hfe_template id='11223']
[ad_1]
Shares of Garden Reach Shipbuilders & Engineers (GRSE) surged 4% on Wednesday to an intraday high of Rs 2,599 on the BSE after the company announced that it had emerged as the Lowest Bidder (L1) for the Next Generation Corvettes (NGC) project of the Indian Navy, valued at over Rs 25,000 crore. In a regulatory filing, GRSE informed that it participated in the Commercial Negotiation Committee (CNC) meeting convened by the Ministry of Defence on May 21 for the opening of commercial bids for the acquisition of eight NGC ships. “In terms of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “SEBI Listing Regulations”), we wish to inform you that GRSE attended the Commercial Negotiation Committee (CNC) meeting convened by the Ministry of Defence (MoD) for opening of commercial bids for the acquisition of eight (08) ...