GE Shipping rises on inking contract to buy Medium Range Product Tanker

13 Jul 2016

GE Shipping is currently trading at Rs. 325.00, up by 7.15 points or 2.25% from its previous closing of Rs. 317.85 on the BSE.

The scrip opened at Rs. 321.30 and has touched a high and low of Rs. 329.00 and Rs. 321.30 respectively. So far 3,470 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 420.00 on 10-Nov-2015 and a 52 week low of Rs. 275.00 on 02-Mar-2016.

Last one week high and low of the scrip stood at Rs. 331.25 and Rs. 313.55 respectively. The current market cap of the company is Rs. 4,950.47 crore.

The promoters holding in the company stood at 30.51%, while Institutions and Non-Institutions held 42.38% and 27.10% respectively.

Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a Medium Range Product Tanker of about 48,539 dwt. The 2005 Japanese built vessel is expected to join the company’s fleet in Q2 FY17.

The company’s current fleet stands at 33 vessels, comprising 23 tankers (7 crude carriers, 14 product tankers, 2 LPG carrier) and 10 dry bulk carriers (5 Kamsarmax, 5 Supramax) with an average age of 9.97 years aggregating 2.48 mn dwt. Additionally, the company has 3 Newbuilding Kamsarmaxes and 1 secondhand Capesize Bulk Carrier on order.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323