In International Shipping News 18/03/2017
GE Shipping on Friday announced that the company has signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt.
The vessel is a 2006 build and is expected to join the company’s fleet in Q1FY18.
GE Shipping on the NSE is trading at Rs 384 per share, down by 2.2%. The stocks hit an intraday high of Rs 393 per share and a intraday low of Rs 383 per share in Friday’s trade.
In a period of one year the stock had delivered 24% returns, underperforming the BSE Mid-cap and Nifty Service Sector indices over the same time span.
The Great Eastern Shipping Company Limited is engaged in the business of providing shipping services. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. Its offshore business services the oil companies in carrying out offshore exploration and production activities.
Stock view:-
Great Eastern Shipping Company Ltd is currently trading at Rs 385.95, down by Rs 7.75 or 1.97% from its previous closing of Rs 393.7 on the BSE.
The scrip opened at Rs 393.7 and has touched a high and low of Rs 394 and Rs 383.9 respectively. So far 72578(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5936.09 crore.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 410.4 on 20-Jan-2017 and a 52 week low of Rs 296.6 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 397 and Rs 367 respectively.
The promoters holding in the company stood at 30.41 % while Institutions and Non-Institutions held 42.54 % and 26.77 % respectively.
Source: IIFL
