| Company | Value | Change | %Change |
|---|
The order is set to cost ₹123.97 crore plus 15% (growth of work/additional work and additional spares). The normal refit work comprises both, services and mandatory spares. The spares required for any additional work will be considered as growth of work.
The company had constructed and supplied the MCGS Barracuda warship to the Mauritius government for their coast guard to use in 2014. The order has been awarded by the ministry as a grant to the Mauritius government.
The work is to be executed in 10 months from the date of availability of the ship for refit.
Shares of Garden Reach Shipbuilders were trading lower on Thursday, February 20, after a day’s breather. Prior to Wednesday’s gain, the stock was trading with losses for six sessions in a row.
The stock was down 0.29% at ₹1,347.9 apiece at 12.05 pm. It is down 48.9% down from its all-time high of ₹2,833.80 per share. It has fallen 24.11% in the last six months but has gained 63.33% in the past year.
Also Read: Reliance Industries shares have a 30% potential upside, according to Morgan Stanley
