Defence major Garden Reach Shipbuilders & Engineers reported its shareholding data on Wednesday afternoon.

What Happened: As per the data, Mutual Fund holding in the defence PSU went down to 1.61% in the September quarter from 2.52% reported at the end of the June quarter.  HDFC Balanced Advantage Fund also dumped nearly half of the shares it was holding. The fund stake currently stands at 1.06% down from 1.97% at the end of June.

Foreign institutional investors also pared down their stake during the June-September period. As per data, FIIs currently hold a 3.65% stake down from the 3.91% reported at the end of June.

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Retail investors, on the other hand, raised their holding in the PSU stock. In the July-September quarter, the stake of Retail investors holding up to ₹2 lakh went up 16.78% from 12.93% at the end of June. The number of holders went up to 3.95 lakh in September, a 56% jump compared to 2.52 lakh at the end of June.

Earlier in the month, the Kolkata-based shipbuilding company was awarded a ₹226.18 crore contract for the design, construction, operation, and maintenance of hybrid electric ferries. 

Last month, the company was upgraded from ‘Schedule B' to ‘Schedule A' Central Public Sector Enterprise (CPSE) by the Government of India, reflecting its robust financial performance and operational efficiency.

Price Action: GRSE’s share price was up 0.16% to trade at ₹1,666.70 on Wednesday afternoon.

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