Garden Reach Shipbuilders & Engineers Ltd. (GRSE) reported a strong financial performance for the fourth quarter of fiscal year 2024-25, with revenue increasing 61.7% year-over-year to Rs 1,642 crore and net profit surging 118.9% to Rs 244 crore. EBITDA rose 144% compared to the same period last year. Following these results, GRSE shares rallied over 11%, at one point gaining as much as 14.35%. The company is currently trading at a price-to-earnings multiple reflecting its improved earnings. In the broader market, shipbuilding stocks such as Cochin Shipyard also saw gains up to 17%, contributing to the Nifty Defence index's momentum. However, the overall Indian equity market experienced declines, with the Sensex falling around 230 to 300 points and the Nifty dropping close to 50 points, trading near the 25,000 level. Sectoral performance was mixed, with Nifty IT as a top loser and Nifty Energy leading gains. Globally, U.S. and European markets showed strength driven by cyclical stocks, while Asian markets faced currency pressures. India and Canada stood out as top performers globally, supported by domestic demand.