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Essar Shipping surges on planning to focus on drilling and logistics business

08 May 2012 Evaluate

Essar Shipping is currently trading at Rs. 31.00, up by 0.45 points or 1.47% from its previous closing of Rs. 30.55 on the BSE.

The scrip opened at Rs. 31.70 and has touched a high and low of Rs. 31.70 and Rs. 30.55 respectively. So far 6267 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.00 on 15-Nov-2011 and a 52 week low of Rs. 16.20 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 31.95 and Rs. 27.75 respectively. The current market cap of the company is Rs. 636 crore.

The promoters holding in the company stood at 83.71% while Institutions and Non-Institutions held 8.31% and 7.98% respectively.

Essar Shipping, part of the Ruias-controlled Essar Group is likely to sharpen its focus on its drilling and logistics business to balance the margin pressures that shipping operations facing currently. It has also initiated to reduce debt on its books.

Currently, drilling and logistics business contribute 20% and 40% to Essar Shipping's revenues respectively. In the previous year that is 2010-11 revenues from these two businesses were about Rs 1,286 crore in the logistics sector and Rs 353 crore in drilling.

Recently, Essar Shipping has received an order from New Sino Oil Company to drill five wells in Brunei. Essar Oilfield Services India (EOSIL), a wholly owned subsidiary of Essar Shipping will execute the drilling of these wells.

Essar Shipping Share Price

27.79 0.62 (2.28%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 305.85
GE Shipping 1425.30
Dredging Corp 976.65
Seamec 1556.00
Shreeji Ship.Global 377.10
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