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6h ago

GRSE Approves Rs 2,896 Crore Raichak Shipyard

The board’s capital OK signals a push to raise the yard’s naval and commercial shipbuilding output while key timelines and funding details await further filings.

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The multibagger defence stock has fallen 9% in a year and rallied 185% in three years.
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Overview

  • GRSE’s board approved a Rs 2,896 crore capital budget for a greenfield shipyard at Raichak at its 423rd meeting on September 21, the company said in an exchange filing.
  • The company said the Raichak facility is intended to expand its ability to build vessels for both the Indian Navy and Coast Guard plus commercial ships.
  • The exchange disclosure confirmed the approval but did not provide an implementation schedule, financing mix, projected annual capacity, or an expected commissioning date.
  • Investors reacted positively to the announcement, with GRSE shares rising about 3.6% in intraday trade after the filing was made public.
  • GRSE is a Defence Ministry–owned shipbuilder and the Raichak yard is part of a three-facility expansion that could boost domestic shipbuilding capacity and create work for local suppliers as the company issues further project details.