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Whirlpool of India Ltd, Garden Reach Shipbuilders & Engineers Ltd, Mazagon Dock Shipbuilders Ltd and Data Patterns (India) Ltd are among the other gainers in the BSE's 'A' group today, 29 April 2025.
Paras Defence and Space Technologies Ltd spiked 8.72% to Rs 1242.05 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.66 lakh shares were traded on the counter so far as against the average daily volumes of 48878 shares in the past one month.
Whirlpool of India Ltd surged 8.54% to Rs 1301.8. The stock was the second biggest gainer in 'A' group. On the BSE, 92334 shares were traded on the counter so far as against the average daily volumes of 23859 shares in the past one month.
Garden Reach Shipbuilders & Engineers Ltd soared 7.86% to Rs 1886.9. The stock was the third biggest gainer in 'A' group. On the BSE, 4 lakh shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one month.
Mazagon Dock Shipbuilders Ltd gained 7.08% to Rs 2984.4. The stock was the fourth biggest gainer in 'A' group. On the BSE, 6.61 lakh shares were traded on the counter so far as against the average daily volumes of 2.86 lakh shares in the past one month.
Data Patterns (India) Ltd jumped 6.73% to Rs 2384.3. The stock was the fifth biggest gainer in 'A' group. On the BSE, 1.54 lakh shares were traded on the counter so far as against the average daily volumes of 83252 shares in the past one month.
The company clarified that no immediate revenue generation is anticipated from this initiative.
State-run GRSE is one of India's leading defence shipyards, located in Kolkata. It builds and repairs commercial and naval vessels. GRSE also exports the ships that the company builds. As of 31 December 2024, the Government of India holds 74.50% in the company.
The company's net profit climbed 11.26% to Rs 98.19 crore on a 37.69% rise in revenue from operations to Rs 1,271 crore in Q3 FY25 over Q3 FY24.
The order involves the design, construction, and delivery of the vessels and must be completed within 36 months from the signing of the contract.
The order will not be classified as a related party transaction, as none of the promoters, promoter groups, or group companies have any interest in the entity that awarded the order(s)/contract, it added.
State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into an engineering business with a product profile of prefabricated steel bridges, various deck machinery items, and assembly, as well as testing & overhauling of marine diesel engines. As of 31 December 2024, the Government of India holds 74.50% in the company.
Shares of Garden Reach Shipbuilders & Engineers (GRSE) fell 2.75% to Rs 1,521.25 on the BSE.
Oil & gas shares advanced after declining in the past three consecutive trading sessions.
At 14:30 IST, the barometer index, the S&P BSE Sensex, climbed 1534.92 points or 2.10% to 74,672.82. The Nifty 50 index soared 465.40 points or 2.10% to 22,627.
In the broader market, the S&P BSE Mid-Cap index jumped 2.17% and the S&P BSE Small-Cap index surged 2.38%.
The market breadth was strong. On the BSE, 3,096 shares rose and 788 shares fell. A total of 134 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 8.43% to 20.87.
Buzzing Index:
The Nifty Oil & Gas index jumped 2.59% to 10,106.50. The index slumped 6.92% in the past three consecutive trading sessions.
Hindustan Petroleum Corporation (up 4.21%), Bharat Petroleum Corporation (up 3.76%), GAIL (India) (up 3.26%), Adani Total Gas (up 2.63%), Oil & Natural Gas Corpn (up 2.54%), Oil India (up 2.33%), Petronet LNG (up 2.19%), Indian Oil Corporation (up 2.02%), Gujarat State Petronet (up 1.42%) and Reliance Industries (up 1.35%) advanced.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.05% to 6.591 as compared with previous close 6.588.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.1450, compared with its close of 85.7600 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement rose 1.20% to Rs 87,982.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.28% to 103.19.
The United States 10-year bond yield gained 0.36% to 4.172.
In the commodities market, Brent crude for June 2025 settlement added 16 cents or 0.25% to $64.37 a barrel.
Stocks in Spotlight:
Housing & Urban Development Corporation (HUDCO) jumped 6.21% after the company announced the signing of a significant Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA).
Garden Reach Shipbuilders & Engineers (GRSE) advanced 2.29% after the company entered into a non-binding memorandum of understanding (MoU) with SWAN Defence and Heavy Industries to enhance indigenous commercial shipbuilding capabilities.
International Conveyors rallied 3.74% after the company announced that it had acquired 84,620 equity shares of TD Power Systems for Rs 3 crore.
Garden Reach Shipbuilders & Engineers has signed a Memorandum of Understanding (MoU) with Swan Defence and Heavy Industries on 07 April 2025.
The strategic partnership marks a significant step towards strengthening indigenous shipbuilding capabilities in the commercial segment and supports the national vision of “Aatmanirbhar Bharat” in the maritime sector. Under the terms of the MoU, both shipyards will collaborate on a non-exclusive basis for the construction of commercial vessels and offshore structures, with a focus on global customers and national maritime interests.
This alliance will enable GRSE and SWAN Defence to leverage each other's strengths in infrastructure, expertise, and design capabilities. The partnership will focus on jointly scouting for commercial shipbuilding projects and developing standard platform designs to cater to market needs. By sharing infrastructure and evolving effective build strategies, the two entities aim to ensure faster and more efficient project execution. Additionally, the collaboration will work towards optimizing costs through the development of a mutually beneficial vendor ecosystem. A significant emphasis will also be placed on training and nurturing a skilled local workforce. Furthermore, both parties will cooperate in the trials, commissioning, and future repair of vessels and offshore structures, thereby establishing a comprehensive and sustainable model for commercial shipbuilding in India.