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GE Shipping rises as its arm gets nod to acquire full ownership of GGES

09 Jan 2017 Evaluate

Great Eastern Shipping Company is currently trading at Rs. 385.55, up by 1.85 points or 0.48% from its previous closing of Rs. 383.70 on the BSE.

The scrip opened at Rs. 385.00 and has touched a high and low of Rs. 386.90 and Rs. 385.00 respectively. So far 603 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 397.60 on 01-Nov-2016 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. 386.90 and Rs. 362.80 respectively. The current market cap of the company is Rs. 5810.19 crore.

The promoters holding in the company stood at 30.49%, while Institutions and Non-Institutions held 42.49% and 27.02% respectively.

Great Eastern Shipping Company’s (GE Shipping) wholly owned-subsidiary - Greatship (India) (GIL), has received an approval for acquiring full ownership of its Singapore subsidiary, Greatship Global Energy Services (GGES). The board of directors of GIL at its meeting held on January 06, 2017 has approved for the same.

GIL currently owns a partial stake in GGES, with the rest being held by Greatship Global Holdings, Mauritius (GGHL), a wholly-owned subsidiary of GIL. The proposed acquisition, which would be subject to requisite statutory approvals, is expected to have only a very marginal (if any) impact on cash flow.

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

GE Shipping Share Price

1422.75 -2.55 (-0.18%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 300.30
GE Shipping 1422.75
Dredging Corp 1003.20
Seamec 1557.75
Shreeji Ship.Global 373.25
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