GRSE shares jump 4% as board approves ₹2,896 crore outlay for greenfield shipyard; what investors should know

Garden Reach Shipbuilders & Engineers (GRSE) shares surged around 4% during the trading session on Tuesday, September 22, as the company’s board of directors approved capacity expansion outlay plans for greenfield projects in West Bengal.

In an exchange filing on Monday evening, GRSE informed the stock exchanges that the board has approved the new capacity expansion plans in Raichak, West Bengal, along with an budgetary outlay of ₹2,896 crore for a greenfield shipyard in the area.

NSE data showed GRSE shares surged 3.66% to touch an intraday high of ₹2,459.20 apiece on Tuesday’s market, in comparison to ₹2,372.20 apiece at the previous equity market close.

Trading volumes surged past 425K equity shares during the morning market hours across NSE and BSE combined, reflecting the buying interest among investors.

After touching the intraday high during the early market hours, the company’s stock retracted its gains to trade 1.3% higher at around ₹2,403 apiece on September 22.

GRSE expansion plans

In the NSE filing on September 21, GRSE announced that as part of the company’s capacity expansion plans announced on August 24, three new facilities including Raichak will be set up in West Bengal.

After their meeting on Monday, GRSE disclosed that the board has approved a capital budgetary outlay of ₹2,896 crore for the construction of a greenfield shipyard at Raichak.

“We wish to inform that the board of directors of the company in its 423rd meeting held today, i.e. Sep 21, 2026 has, inter-alia, approved Capital Budgetary outlay of ₹2,896 crore for construction of a Greenfield Shipyard at Raichak,” the company informed the stock exchanges.

As per the disclosure, the new shipyard will expand the shipbuilding capacity of GRSE for both naval (military) and commercial segments.

MoU deals

Earlier this month, GRSE signed a memorandum of understanding (MoU) with global maritime organisation DNV (Det Norske Veritas) during the SMM Hamburg Maritime Trade Fair in Germany to collaborate on advanced warships, specialised vessels, green shipping, sustainable technologies, among others things.

The company also signed a MoU with Damen Technical Cooperation B.V., Netherlands, for establishing a technical and business collaboration framework to explore the design and construction of dredgers for Indian customers.

GRSE share performance

NSE data showed that GRSE shares have delivered more than 1,163% returns to investors in the last five years, and over 198% returns on their investment in the last three years. However, the stock has lost 9.6% in the past one-year period.

On a year-to-date (YTD) basis, the stock has declined 1.2% in 2026, and was down 7.3% in the last one-month period. As per the exchange data, GRSE stock was trading 2.2% higher in the past five market sessions.

Shares of GRSE surged to a 52-week high of ₹3,339 apiece on April 29, 2026, while the 52-week low was at ₹1,963.70 apiece on March 30, 2026.

The ship building company’s market capitalisation was at ₹27,517 crore as of the trading session on Tuesday, September 22, 2026.