PSU Price Target: GRSE shares surge as company signs pact with Kongsberg Maritime Norway
According to 4 analysts that offer 1-year price forecasts for GRSE have a maximum estimate of Rs 3,500 and a minimum estimate of Rs 515.00.
Shares of Defence PSU, Garden Reach Shipuilders and Engineers Ltd (GRSE) soar over by 6.31% as the company has signed MoU with Kongsberg Maritime Norway.
The collaboration seeks significance as it was the first MoU signed between an Indian and a Norwegian company during Norshipping 2025. This partnership marks a major milestone in India's scientific and shipbuilding journey, enabling the indigenous construction of a PRV with cutting edge design and operational features tailored for extreme polar conditions.
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The vessel will play a pivotal role in supporting India’s scientific missions in the Arctic and Antartic Regions contributing significantly to climate research, oceanography and polar logistics. This is in line with the strategic initiative of the Ministry of Earth Sciences MoES, Govt of India to acquire a state of Art Polar Research vessel (PRV) aimed at strengthening India’s Polar research capabilities.
The stock opened today at Rs 3,186.10, reaching an intraday of high of Rs 3,465.50 in the Wednesday trading session. The 52-week high of the stock is Rs 3,465.50. Consequently, the stock surges over by 88.53% in the past six months.
According to 4 analysts that offer 1-year price forecasts for GRSE have a maximum estimate of Rs 3,500 and a minimum estimate of Rs 515.00.
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