Garden Reach Shipbuilders share price rises 9% on Long-Term Lease Agreement with a Kolkata Port

Stock Market today: Garden Reach Shipbuilders share price gained more than 9% in the morning trades on Monday. Garden Reach Shipbuilders & Engineers Ltd on Friday, post market hours had announced signing Long-Term Lease Agreement with Syama Prasad Mookerjee Port, Kolkata for Timber Pond, Howrah (West Bengal )

Garden Reach Shipbuilders -Long term Port agreement details

Garden Reach Shipbuilders & Engineers Ltd in its intimation on the exchanges had said that Board of Directors of the Company at its Meeting held on Friday, 25 Apr 2025 was apprised that Garden Reach Shipbuilders will enter into a thirty-year lease agreement (nonrenewable) with Syama Prasad Mookerjee Port, Kolkata (SMPK) for a land parcel at Timber

This step as per the Garden Reach Shipbuilders & Engineers Ltd aligns with the company's long-term vision to strengthen its infrastructure in line with the growing domestic and export demand. The proposed leased land, with its valuable waterfront access, will support GRSE's initiatives in shipbuilding, ship repair and other engineering activities

The revenue generation from this initiative however has not been specified by the company though the step will help Garden Reach Shipbuilders in ensuring revenue growth and in turn earnings growth prospects

Garden Reach Shipbuilders share price movement

Garden Reach Shipbuilders share price opened at ₹1626.55 on the BSE on Monday, and started gaining further right from the time of start of the trading session . At the time of opening, Garden Reach Shipbuilders share price had opened only slightly higher than previous day's closing price of ₹1616.80. However the Garden Reach Shipbuilders share price thereafter gained further to the intraday highs of ₹1763, which meant gains of 9% for the Garden Reach Shipbuilders share price during the morning trades

Garden Reach Shipbuilders share price has risen more than 15% since recent closing lows at the start of April 2025.

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