Shreyas Shipping soars on inking MoU for acquisition of one container vessel of 2500 teus

08 Feb 2017

Shreyas Shipping & Logistics is currently trading at Rs. 233.00, up by 2.80 points or 1.22% from its previous closing of Rs. 230.20 on the BSE.

The scrip opened at Rs. 231.00 and has touched a high and low of Rs. 238.80 and Rs. 230.20 respectively. So far 3077 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 464.55 on 11-Jul-2016 and a 52 week low of Rs. 133.10 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 240.00 and Rs. 222.00 respectively. The current market cap of the company is Rs. 510.73 crore.

The promoters holding in the company stood at 73.25%, while institutions and non-institutions held 2.41% and 24.35% respectively.

Shreyas Shipping & Logistics has signed a Memorandum of Understanding (MOU) for acquisition of one container vessel of 2500 teus. The delivery of the vessel is expected towards end of February, 2017. With this acquisition, the company will own a fleet of 10 vessels. The new vessel shall be deployed on the Indian coast.

Shreyas Shipping and Logistics was formed primarily to own and operate vessels for feedering of containers between Indian Ports and Internationally renowned container transshipment ports.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323