Garden Reach Shares Soar 6% on Inking MoU with Kalyani Strategic Systems

Shares of Garden Reach Shipbuilders & Engineers Ltd soared 6% on 6 March after the company announced signing a Memorandum of Understanding with Kalyani Strategic Systems Ltd.

Garden Reach Shipbuilders & Engineers has signed a Memorandum of Understanding (MoU) with Kalyani Strategic Systems Ltd. to collaborate on developing and promoting indigenous solutions for sophisticated naval systems, unmanned platforms, and other strategic maritime capabilities for domestic and international markets.

The alliance intends to work on a variety of marine and defense technologies, including ship propulsion and mechanical systems for naval and commercial boats, integrated platform management systems, steering and stabiliser assemblies, and deck equipment, according to the business.

The company will also focus on creating unmanned platforms such as Unmanned Surface Vessels (USVs) and Autonomous Underwater Vehicles (AUVs), according to an exchange filing. Both firms would seek and pursue possibilities in India and other mutually agreed-upon international markets.

“This collaboration is expected to combine GRSE’s extensive expertise in shipbuilding and maritime engineering with KSSL’s capabilities as a leading defence OEM in the design and manufacture of advanced defence platforms and systems,” it said. “The partnership will further contribute to strengthening the national vision of Atmanirbharta by promoting indigenisation, technological collaboration, and enhanced capabilities in defence and maritime systems.”

At 12:20 pm, the shares of Garden Reach Shipbuilders were trading 5.17% higher at Rs 2,533.80 on NSE. 

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