GRSE receives LoA from Government of India, worth Rs 489.98 crore
Defence PSU stock, GRSE, has announced that the Company has received a Letter of Award on 08 Apr 2025 for the Construction and Delivery of two Coastal Research Vessel for the Geological Survey of India. The time period needed to execute the order is 36 months from the signing of the contract.
The Broad consideration of the order is Rs 489.98 crore.
Earlier, the company has signed a Memorandum of Understanding (MoU) with SWAN Defence and Heavy Industries Ltd to boost indigenous capabilities in commercial shipbuilding.
Shares of the company are trading down by 1.26% at Rs 1,546.05. The stock has been corrected over 13.64% in the past one month.
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