Garden Reach is limelight

Garden Reach Shipbuilders announced today morning that it has signed a Memorandum of Understanding (MoU) on 29 Aug 2024 with National Highway Infrastructure Development Corporation Ltd. (NHIDCL) for the fabrication, supply and launching of Double-Lane Class 70 Modular steel & Bailey bridges.

Under similar MoU signed with Border Roads Organization (BRO), GRSE has already supplied 44 nos. Bridges Pan -India. The first bridge of this kind, was constructed at Flaghill, Dokalam, Sikkim at an altitude of 11,000 feet under Project Swastik of the BRO in 2021.

These modular bridges are very easy to transport, especially to remote areas and  are put up much faster, getting erected within a short span of 30 to 45 days.

The company has already delivered over 5,700 portable steel bridges to the Indian Army, Border Roads Organisation, NHIDCL, State Public Works Departments, and the Central Government.

Following this news, the stock price is doing really well; opening just over 1% higher at Rs.1775, it soon surged to an intraday high at Rs.1834.30, up 4.5%. Its 52-week high is at Rs.2834.60.