GRSE Shares Rocket Past ₹2,000: SEBI RA Mayank Singh Chandel Sees 30% More Upside

Garden Reach Shipbuilders & Engineers (GRSE) rocketed 17% on Wednesday, buoyed by strong quarterly results and a long-awaited breakout above key resistance levels. 

The rally has caught the attention of analysts and momentum traders alike, with technical signals and financials aligning in rare harmony.

SEBI-registered analyst Mayank Singh Chandel noted that GRSE has decisively broken above the ₹2,000 level, marking the end of a prolonged 10-month consolidation phase. 

From a technical perspective, GRSE is now firmly trading above its 50-day exponential moving average (EMA) of ₹1,696, confirming its upward trend. 

The Relative Strength Index (RSI) is at 74, signaling strong momentum — though approaching overbought territory. 

According to Chandel, ₹2,000 now acts as a strong support, and the stock’s next potential destination is in the ₹2,750–₹2,800 zone, which coincides with its previous all-time highs.

Chandel recommends that aggressive traders may consider entering now, with a stop-loss below ₹2,000. 

Conservative traders, he adds, might wait for a mild pullback toward ₹2,050–₹2,100 before taking a position.

GRSE posted a robust show in March-quarter earnings. Revenues rose 62% to ₹1,642 crore, while profits surged 119% to ₹244 crore. 

Company management reaffirmed their confidence, pointing to a robust order book, improved execution, and healthy profit visibility going forward. 

With tailwinds from India’s defence capex cycle and increasing self-reliance in shipbuilding, GRSE continues to benefit from a favourable macro and policy environment.

For traders and long-term investors tracking defence sector breakouts, GRSE now stands out as a promising candidate — combining strong earnings momentum with bullish technical signals.

GRSE shares have gained 39% year-to-date (YTD).

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