Garden Reach Shipbuilders & Engineers Shows Strong Momentum Amid Shipbuilding Sector Gains

Jan 20 2025 12:05 PM IST
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Garden Reach Shipbuilders & Engineers has shown significant activity, achieving a notable rise over three consecutive days, with a total increase of 12.83%. The stock is currently above its short-term moving averages, while the broader shipbuilding sector also experienced positive momentum, outperforming the Sensex on the same day.
Garden Reach Shipbuilders & Engineers, a midcap player in the shipbuilding industry, has demonstrated notable activity with a gain of 5.5% on January 20, 2025. This marks a consecutive increase over the last three days, culminating in a total rise of 12.83% during this period. On this day, the stock reached an intraday high of Rs 1592.85, reflecting a rise of 5.67%.

In terms of key financial metrics, the stock is currently positioned above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages. The broader shipbuilding sector also experienced positive momentum, gaining 2.73%.

When compared to broader market indices, Garden Reach Shipbuilders & Engineers outperformed the Sensex, which recorded a performance of 0.73% on the same day. Over the past month, the stock has shown a modest increase of 1.37%, contrasting with the Sensex's decline of 1.11%.
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