213 per cent return: Multibagger aerospace & defense company launches Autonomous Underwater Vehicle; know more here!
The company takes its first step into AUV development and plans to reveal ship-based UAV and ASV by year-end.
On July 28, 2023, the Sensex and Nifty are currently trading lower with a decline of 0.12 per cent and 0.05 per cent, respectively. This indicates a slight downturn in the market sentiment.
Contrary to dampening market sentiments, the shares of Garden Reach Shipbuilders & Engineers Limited soared 2.26 per cent. The company's current market capitalization is Rs 7,079.31 crore.
On Friday, July 28, 2023, the company announced that it is set to launch its Autonomous Underwater Vehicle (Aerospace & Defense).
The Autonomous Underwater Vehicle (AUV) is a lightweight and easily portable device developed by GRSE in collaboration with Aerospace Engineering Private Limited (AEPL) as an industry partner. It boasts a fully autonomous operational capability, and its modular design allows for versatile use with different payloads.
The AUV can undertake a wide range of tasks, including mine detection, Anti-Submarine Warfare (ASW) training, underwater inspections, search and rescue missions, and scientific exploration. The development of this AUV is a significant stride towards achieving self-reliance and indigenization, aligning with the nation's 'Atmanirbharta' (self-reliance) policy.
With its advanced features and multi-purpose applications, this AUV showcases the nation's technological prowess and capacity to innovate in the field of underwater exploration and security.
GRSE takes its first step into AUV development and plans to reveal ship-based UAV and ASV by year-end. Financial implications remain uncertain during this developmental stage.
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Garden Reach Shipbuilders & Engineers Ltd (GRSE) is a leading shipbuilding company in India, operating under the Ministry of Defence. It primarily serves the shipbuilding needs of the Indian Navy and Indian Coast Guard. GRSE is a profitable and diversified shipyard, known for being the first in India to export warships and successfully delivering 100 warships to the Indian Navy and Indian Coast Guard.
The stock has witnessed significant buying activity as it has surged more than 213 per cent in the last 3 years.
Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.