• Source:JND
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Defence Stocks: The shares of Garden Reach Shipbuilders and Engineers (GRSE Share Price) soared nearly 7% during the early trade on Thursday amid high trading volume after the company reported over 100% rise in profit in the March quarter. Meanwhile, the share price of Cochin Shipyard surged more than 5% in early trade ahead of the Q4 result announcement. Along with announcing its results, the company is also expected to announce a dividend for FY25.

Garden Reach Shipbuilders Share Price 

At around 11:53 am, GRSE shares were trading at Rs 2,329.30 per share on NSE, up 6.46%. The defence stock started trade with a significant gap-up at Rs 2,118 against the previous day's closing price of Rs 2,188.0 per share. The stock hit an intraday high at 2,338.60, surging nearly 7 per cent. Yesterday, the stock soared over 15% after the company announced a strong gain in profit in Q4. 

Garden Reach Shipbuilders Q4 Result:  On Wednesday, the defence PSU announced that its March quarter profit of Rs 224 crore had doubled from Rs 112 crore in the same quarter the previous year. In Q4FY25, the company's operational revenue climbed from Rs 1,015.7 crore in the same quarter of the previous year to Rs 1,642 crore, a 61.7% YoY increase.

EBITDA increased 142% YoY to Rs 219 crore, while net profit increased 119% YoY to Rs 244.2 crore for the quarter. The quarter's earnings per share (EPS) increased from Rs 9.74 in Q4FY24 to Rs 21.32.

Cochin Shipyard Share Price

The shares of Cochin Shipyard Ltd were trading in positive territory ahead of the announcement of the Q4 results. At around noon, the shares of the public sector defence company were trading at Rs 1,795.80 on NSE, up 5.67% against the previous session's closing price. The scrip opened in green at Rs 1,26.0, surging a bit against the previous day's closing value of  Rs 1,699.40. Meanwhile, its 52-week high and low values are Rs 2,979.45 and Rs 1,180.20, respectively.

Rally In Defence Stocks

The defence stock, including Cochin Shipyard, Garden Reach Shipbuilders, Paras Defence, BEL, HAL and others, have been rising for the past few days. The rally is fueled by PM Modi's statement to focus on 'Made In India' defence equipment post 'Operation Sindoor'. 

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Disclaimer: This is just a piece of news about recent developments in the stock. Jagran does not advise investing. Please take the expert's opinion before investing.