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Shreyas Shipping strengthens on inking MOA for acquisition of one multipurpose vessel

17 Jul 2017 Evaluate

Shreyas Shipping & Logistics is currently trading at Rs. 336.20, up by 7.10 points or 2.16% from its previous closing of Rs. 329.10 on the BSE.

The scrip opened at Rs. 334.90 and has touched a high and low of Rs. 345.00 and Rs. 331.50 respectively. So far 1,248 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 442.00 on 15-Jul-2016 and a 52 week low of Rs. 193.10 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 348.00 and Rs. 326.45 respectively. The current market cap of the company is Rs. 738.21 crore.

The promoters holding in the company stood at 73.25%, while Institutions and Non-Institutions held 1.12% and 25.63% respectively.

Shreyas Shipping & Logistics has signed a Memorandum of Agreement (MOA) for acquisition of one multipurpose vessel of about 1100 teus. The delivery of the vessel is expected in first week of September 2017.

Earlier in June, the company had signed a Joint Venture Agreement (JVA) with Yokohama based Suzue Corporation of Japan wherein a Joint Venture Company (JVC) would be formed which will capitalize on the possibilities in international freight forwarding, customs clearance service, warehousing services, land transport services and other related logistic services with additional focus on land bank development for commercial purposes in Indian sub-continent and Japan.

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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