Shares of shipbuilding company Garden Reach Shipbuilders have seen a stormy surge. Shares of Garden Reach Shipbuilders rose over 9% on Monday to Rs. 2309.50 was reached. Shares of the company hit new highs on Monday. Garden Reach Shipbuilders has signed a contract to build a state-of-the-art ocean going tug vessel. The company has received this contract from the Government of Bangladesh.
The value of this order is 21 million dollars
Garden Reach Shipbuilders said in an exchange filing that the company will design, build and deliver ocean-going tug vessels. Garden Reach Shipbuilders intends to complete this order in the next 24 months. The order received by the company is worth about 21 million dollars. The tug will have an overall length of about 61 meters and a beam of about 15.80 meters. Its depth will be about 6.80 meters.
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Contract with German company for 4 cargo ships
Garden Reach Shipbuilders recently bagged a contract to deliver 4 multi-purpose cargo vessels from a German company. Apart from this, just a few weeks ago Garden Reach signed another contract in Bangladesh. The contract was for a trailing suction hopper dredger.
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The company’s stock has gained more than 300% in a year
Shares of Garden Reach Shipbuilders have gained more than 300% in the past one year. On July 3, 2023, the shares of the company were Rs. were at 577.05. Shares of Garden Reach Shipbuilders on July 1, 2024 at Rs. 2309.50 has been reached. In the last 6 months, Garden Reach shares have seen an increase of over 163%. During this period the shares of the company were Rs. 874.15 to Rs. 2300 have happened.
Over 1800% increase in stock in 5 years
Shares of Garden Reach Shipbuilders have gained more than 1835% in the last 5 years. On July 5, 2019, the shares of the company were Rs. were at 118.60. Shares of Garden Reach Shipbuilders on July 1, 2024 at Rs. 2309.50 has been reached. At the same time, in the last 2 years, shares of Garden Reach Shipbuilders have seen a sharp increase of 941%.