GRSE shares jump 9% after signing Rs 32,000 crore Indian Navy contract for five next-generation corvettes

GRSE shares rose about 9% after the company signed a Rs 32,000 crore Indian Navy contract to build five next-generation corvettes, having emerged as the lowest bidder. The project must be completed within nine years and four months from receipt of the first-stage payment. GRSE is currently building nine warships and executing orders for 36 other platforms, including 13 export vessels.