GE Shipping surges on taking delivery of a new building resale Kamsarmax Dry Bulk Carrier

01 Aug 2016

GE Shipping is currently trading at Rs. 354.95, up by 19.60 points or 5.84% from its previous closing of Rs. 335.35 on the BSE.

The scrip opened at Rs. 345.35 and has touched a high and low of Rs. 357.00 and Rs. 345.00 respectively. So far 23,000 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. 346.00 and Rs. 332.00 respectively. The current market cap of the company is Rs. 5,406.67 crore.

The promoters holding in the company stood at 30.49%, while Institutions and Non-Institutions held 42.27% and 27.24% respectively.

Great Eastern Shipping Company (GE Shipping) took delivery of a new building resale Kamsarmax Dry Bulk Carrier ‘Jag Aalok’ of about 82023 dwt. The company had contracted to buy the ship in April 2016. The vessel has been built at Jiangsu New Yangzi shipbuilding Co. Ltd., P.R. China.

With the inclusion of this vessel, the Company’s current fleet stands at 35 vessels, comprising 23 tankers (7 crude carriers, 14 product tankers, 2 LPG carrier) and 12 dry bulk carriers (1 Capesize, 6 Kamsarmax, 5 Supramax) with an average age of 9.35 years aggregating 2.75 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:

GE Shipping Share Price

316.70 4.65 (1.49%) Mar 01, 10:15
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Peers
Company Name CMP
Shipping Corpn. 101.90
GE Shipping 316.70
Dredging Corp 404.55
Shreyas Shipping 83.40
Essar Shipping 9.04
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Sensex vs GE Shipping
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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