Newsletter
5. Stocks that kept us interested 🚀
1. Garden Reach steers into Navy deal 🚢
Garden Reach Shipbuilders jumped 11% after emerging as the lowest bidder for a ₹25,000 crore Indian Navy contract.
The deets: the project is to build the Navy’s Next Generation Corvettes (NGCs) which are fast, agile warships built for modern maritime warfare.
The total project is valued at ₹40,000 crore, to be split between two shipyards.
Zoom out: this comes as defence stocks rally post Operation Sindoor, where India flexed its military muscle.
Garden Reach stock is up 50% in the past month, now trading just shy of its 52-week high.
2. NTPC Green’s battery power play 🔋
NTPC Green jumped over 5% after bagging a battery storage project worth 80 MW/320 MWh in Kerala, emerging as the top bidder in NHPC’s latest reverse auction. .
The deets: the company has won two big battery storage projects, basically, giant power banks that can store electricity and release it when needed, like during power cuts or peak hours.
320 MWh can power around 1.2 lakh homes for 4 hours, just enough to handle an evening power surge or a grid failure.
Zoom out: this is part of India’s bigger battery energy storage push. As the country adds more solar and wind power, battery systems are needed to store energy and release it on demand, keeping the grid stable.
