Indian shipbuilder GRSE signs $108M contract for two more vessels, boosting stock by 5%.

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) signed a contract with German firms to build two more 7,500 DWT multi-purpose vessels, bringing their total order to eight vessels under an earlier agreement. Each vessel is 120 meters long and can carry 7,500 tonnes of cargo, with the contract valued at about $108 million. GRSE's shares increased by 5% on Tuesday, marking a 27.59% rise in the past week. The company is known for its reputation in shipbuilding and has seen strong performance in the stock market.