Garden Reach signs ₹32,000 crore Indian Navy contract for 5 corvettes

Government or defence orderBusiness Updates View source PDF Explain this filing

GRSE · price

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Price reactionminutes from the announcement price · days from the prior close

+3.6%Reaction day

₹2046.90

prior close

₹2085.60

announcement price

After-mkt

timing

Nifty Smallcap 250market+0.4%+3.2% vs market

Aerospace & Defense peers, median of 25sector+1.0%+2.5% vs sector

On the reaction day the stock moved 3.2 pts more than Nifty Smallcap 250 and 2.5 pts more than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.7

10m

+0.2

15m

+1.0

30m

+4.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.6+0.4+3.2+1.0+2.5

Next day

+4.3+2.4+2.0+4.5-0.2

+4.3pendingpending+4.1+0.2

———+2.5—

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15d

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UpDownMarket · Nifty Smallcap 250Sector · Aerospace & Defense peers, median of 25Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Garden Reach Shipbuilders has signed a contract with the Indian Navy to construct and deliver five Next Generation Corvettes. The contract is worth ₹32,000 crore and is to be completed within 9 years and 4 months from receipt of the first stage payment. It is a domestic order and not a related-party transaction.

Likely market impact

Adds a major multi-year defence order, supporting long-term revenue visibility, with execution and payment schedules key to watch.