GE Shipping shines on plan to invest around $380 million to raise capacity

01 Sep 2014

Great Eastern Shipping Company (GE Shipping) is currently trading at Rs. 371.30, up by 4.05 points or 1.10 % from its previous closing of Rs. 367.25 on the BSE.

The scrip opened at Rs. 370.00 and has touched a high and low of Rs. 371.30 and Rs. 355.00 respectively. So far 1189 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 394.00 on 04-Jul-2014 and a 52 week low of Rs. 249.00 on 29-Aug-2013.

Last one week high and low of the scrip stood at Rs. 373.70 and Rs. 361.80 respectively. The current market cap of the company is Rs. 5541.81 crore.

The promoters holding in the company stood at 30.50% while Institutions and Non-Institutions held 40.93% and 28.37% respectively.

Great Eastern Shipping Company is planning to invest around $380 million in acquiring vessels and on a rig by March 2017. Of total, around $180 million will be for six vessels on order, which include a major thrust on increasing the bulk capacity, one product anchor vessel and a new building.

The company, which is also into the offshore segment, has a $200-million rig on order, which shall be delivered by the end of the fiscal. Further, the 50% of the planned capex will get over in FY15 itself, while the remaining will be spread equally in FY16 and FY17.

Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.

 

Related The Great Eastern Shipping Company Ltd. Links:

GE Shipping Share Price

398.30 20.20 (5.34%) May 14, 18:01
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Peers
Company Name CMP
Shipping Corpn. 110.10
GE Shipping 398.30
Dredging Corp 386.85
Shreyas Shipping 98.00
Essar Shipping 9.45
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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