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Shreyas Shipping soars on receiving approval to divest shipping, logistics business

03 Feb 2012 Evaluate

Shreyas Shipping & Logistics is currently trading at Rs. 32.00, up by 4.50 points or 16.36% from its previous closing of Rs. 27.50 on the BSE.

The scrip opened at Rs. 32.45 and has touched a high and low of Rs. 32.80 and Rs. 30.00 respectively. So far 25,034 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 45.80 on 23-Sep-2011 and a 52 week low of Rs. 20.50 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 32.80 and Rs. 23.50 respectively. The current market cap of the company is Rs. 70.00 crore.

The promoters holding in the company stood at 73.29% while Institutions and Non-Institutions held 0.56% and 26.14% respectively.

Shreyas Shipping & Logistics has received an approval to segregate the business of shipping and logistics. The board at its meeting held on February 02, 2012 has approved for the same.

The company has taken this step in order to enable its wholly owned subsidiary Shreyas Relay Systems to grow as an independent logistics company. This will be done by initiating the process of demerger of the two companies.

Shreyas Shipping & Logistics, a Transworld Group of company, was incorporated primarily to own and operate vessels for feedering of containers between Indian ports and internationally renowned container transshipment ports.

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