GRSE secures $54 million order, Centre upgrades PSU to 'Schedule A' category
New Delhi/IBNS: The government on Wednesday (Sept. 18) upgraded shipbuilding and defence Public Sector Undertaking (PSU) Garden Reach Shipbuilders and Engineers Ltd. (GRSE) from Schedule ‘B’ to Schedule ‘A’ Central Public Sector Enterprise (CPSE), reports said.
According to the Department of Public Enterprises, GRSE becomes the 77th company in the Schedule ‘A’ category, with an annual turnover of Rs 3,592 crore and a net profit of Rs 357 crore for the fiscal year 2023-24.
GRSE described the upgrade as a "significant milestone" that highlights its strong financial performance, operational efficiency, and contribution to national security.
This upgrade will enhance the company's senior management capacity, allowing for better oversight and management of its operations, as per reports.
Additionally, the PSU informed the exchanges about a $54 million contract for the construction of four additional multi-purpose vessels for German shipping company Carsten Rehder Schiffsmakler, bringing its total order to eight vessels.
These vessels are expected to be delivered within 33 months from the contract signing, as stated by the PSU.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
PM Modi urges Indians to go 'Vocal for Local' in festival shopping
Pakistan’s mineral show-and-tell: Sharif and Munir try to charm Trump
Rain predicted during Durga Puja days, Yellow warnings for all Tripura districts
Festive mode on high from ‘Maha Shasti’ day, Agartala city witness massive crowd
