The crane enhances the capacity of the company's modernized infrastructure facility.
Garden Reach Shipbuilders & Engineers said that the new 250-ton Goliath Crane has been commissioned on 22 June 2021 at main works unit of the company at an approximate cost of Rs 155 crore.
The Goliath Crane has enhanced the capacity of the modernized infrastructure facility of the company's shipyard. It is a vital asset for construction and repair of wide range of modern and strategic warships.
Following the announcement, the scrip surged 4.57% to currently trade at Rs 211.60 on the BSE.
So far this month, the stock has zoomed 17.45% while the benchmark Sensex has advanced 1.29% during the same period.
Garden Reach Shipbuilders & Engineers is one of India's leading shipyards, located in Kolkata, West Bengal. It builds and repairs commercial and naval vessels.
The company's net profit rose 1.2% to Rs 58 crore on a 12.7% decline in net sales to Rs 398.83 crore in Q4 FY21 over Q4 FY20.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU