GRSE enters into MoU with Merlinhawk Aerospace and KELTRON, shares soars over 4.3 percent

State owned Garden Reach Shipbuilders Engineer has signed a MoU with two private associations under confidential nature. The share price of the government owned company has surged by 4.35 percent and is being bid as a successful multibagger stock sincerely.

According to the exchange filing made by the Company, it has entered into the following two numbers of non-binding MoUs, which are confidential in nature.

 

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The first agreement is signed with M/s Merlinhawk Aerospace Private Limited for Collaboration towards development of composite Doors and Hatches for use in Naval Ships, Counter UAV Solution using EDFCS along with CRN 91, EOIRST for Surveillance, Composite Masts for Indian Navy Ships and Hydrogen fuel cells based power generation for maritime applications.

Second with M/s Kerala State Electronics Development Corporation Limited (KEL TRON) for establishing collaborative working arrangement towards development of core futuristic technologies in various fields to achieve self-reliance in certain areas of Underwater WaterSurveillance.

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