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GE Shipping rises with arm receiving approval for merger of GGHL into GIL

08 Aug 2017

Great Eastern Shipping Company’s (GE Shipping) is currently trading at Rs. 389.50, up by 5.00 points or 1.30% from its previous closing of Rs. 384.50 on the BSE.

The scrip opened at Rs. 389.05 and has touched a high and low of Rs. 389.50 and Rs. 385.40 respectively.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 477.00 on 21-Apr-2017 and a 52 week low of Rs. 336.90 on 16-Aug-2016.

Last one week high and low of the scrip stood at Rs. 394.00 and Rs. 383.45 respectively. The current market cap of the company is Rs. 5,932.95 crore.

The promoters holding in the company stood at 30.20%, while Institutions and Non-Institutions held 42.33% and 27.47% respectively.

GE Shipping’s wholly owned-subsidiary - GreatShip (India) (GIL) has received in principle approval for the merger of Greatship Global Holdings, Mauritius (GGHL), its wholly-owned subsidiary into GIL.

On GGHL’s merger with GIL, Greatship Global Offshore Services (a wholly owned subsidiary of GGHL) will become a direct wholly owned subsidiary of GIL. The board of directors at their meeting held on August 7, 2017, has approved for the same.

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

399.95 -10.00 (-2.44%) Jun 11, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323