GE Shipping rises on contracting to buy a medium range product tanker

05 Nov 2014

Great Eastern Shipping Company is currently trading at Rs. 399.95, up by 3.55 points or 0.90% from its previous closing of Rs. 396.40 on the BSE.

The scrip opened at Rs. 398.00 and has touched a high and low of Rs. 400.00 and Rs. 394.95 respectively. So far 5108 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 467.00 on 16-Sep-2014 and a 52 week low of Rs. 272.00 on 05-Nov-2013.

Last one week high and low of the scrip stood at Rs. 402.20 and Rs. 384.10 respectively. The current market cap of the company is Rs. 5969.26 crore.

The promoters holding in the company stood at 30.50% while Institutions and Non-Institutions held 41.27% and 28.02% respectively.

Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a Medium Range Product Tanker of about 48,700 dwt on 4th November, 2014. The 2004 Japanese built vessel is expected to join the company’s fleet in the current quarter.

The company’s current fleet stands at 30 vessels, comprising 21 tankers (8 crude carriers, 11 product tankers, 2 LPG carriers) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 5 Supramax) with an average age of 9.8 years aggregating 2.45 mn dwt.

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:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323