The rally was sparked by a major development: the Kolkata-based defence shipbuilder signed an MoU with Norway’s Kongsberg to jointly build India’s first polar research vessel (PRV) — a milestone project in the country’s maritime ambitions.
This strategic move has clearly impressed the market, sending investor confidence soaring. However, amid the stock’s sharp uptrend, both BSE and NSE have placed GRSE under the long-term Additional Surveillance Measure (ASM). This is a standard step taken by the exchanges when a stock shows heightened volatility, and it’s meant to caution investors, not alarm them.
📈 What Do Technical Indicators Suggest?
Despite being under ASM, some technical analysts remain optimistic.
Ravi Singh, SVP at Religare Broking, pointed out that the stock is showing strong momentum on daily charts. He expects GRSE to test ₹3,550 in the near term, but recommends keeping a stop loss at ₹3,250 to manage risk.
Jigar S Patel of Anand Rathi offered similar insights. He sees a support level around ₹3,200 and resistance at ₹3,500. If the stock manages to break above ₹3,500 decisively, a rally towards ₹3,600 could follow. For short-term traders, he sees the stock moving within a range of ₹3,100–₹3,600.
📊 The Technical Picture
GRSE is currently trading well above all its key simple moving averages (SMAs) — from 5-day to 200-day averages — signaling sustained strength in its upward trend.
- The 14-day Relative Strength Index (RSI) stands at 82.26, which puts the stock in overbought territory (above 70). While this shows strong buying pressure, it may also hint at the possibility of a short-term pullback.
💼 Fundamentals Snapshot
Here’s a quick look at the company’s key metrics:
- P/E Ratio: 97.59
- P/B Value: 20.91
- Earnings Per Share (EPS): ₹34.46
- Return on Equity (RoE): 21.43%
- One-Year Beta: 1.6 (indicating higher-than-average volatility)
GRSE, a key asset in India’s defence manufacturing landscape, operates under the Ministry of Defence. As of March 2025, the Government of India owns a 74.5% stake in the company, reinforcing its status as a leading public sector player in the warship construction domain.
