Shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) rose 5% on Monday after the PSU said the government has granted Navratna status to the defence firm.  

GRSE shares gained 4.92% to Rs 2935 against the previous close of Rs 2797.30. Market cap of GRSE climbed to Rs 32,852 crore. On BSE, around 1.56 lakh shares changed hands amounting to a turnover of Rs 45.19 crore. 

"Garden Reach Shipbuilders and Engineers (GRSE) Ltd was accorded Navratna status by the Department of Public Enterprises, Ministry of Finance, Government of India, on Friday, June 19, 2026, signifying a monumental milestone in the shipyard’s journey,"  said the firm in a release. 

"GRSE's financial performance over the last five years reflects its remarkable growth trajectory and operational excellence. The Company's Revenue from Operations has grown from Rs 1,754 crore in FY 2021-22 to Rs 7,002 crore in FY 2025-26, registering an increase of nearly 300%. During the same period, Profit After Tax (PAT) has risen from ?190 crore to ?748 crore, reflecting a growth of nearly 294%," said GRSE. 

GRSE's elevation to a Navratna status for GRSE comes at a time when the shipyard is in an expansion mode. It has embarked on a mission to increase capacity through both brownfield and greenfield projects

Meanwhile,the stock is neither overbought nor oversold on charts with its RSI at 57.6 mark. The multibagger defence stock has fallen 13% in a year and rallied 395% in three years Garden Reach Shipbuilders & Engineers is mainly engaged in the construction of warships.