GE Shipping advances on inking contract to buy secondhand Medium Gas Carrier

04 Sep 2017

Great Eastern Shipping Company (GE Shipping) is currently trading at Rs. 403.00, up by 7.05 points or 1.78% from its previous closing of Rs. 395.95 on the BSE.

The scrip opened at Rs. 409.00 and has touched a high and low of Rs. 409.00 and Rs. 400.00 respectively. So far 3,059 shares were traded on the counter.

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. 337.00 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 409.00 and Rs. 384.00 respectively. The current market cap of the company is Rs. 6,130.00 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 has signed a contract to buy a secondhand Medium Gas Carrier of about 35,420 cbm. The 1997 built vessel is expected to join the company’s fleet in Q2FY18.

The company’s current fleet stands at 46 vessels, comprising 30 tankers (12 crude carriers, 16 product tankers, 2 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 9.76 years aggregating 3.80 million dwt. Additionally, the company has committed to purchase 1 Secondhand LR2 product carrier.

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

307.60 -15.00 (-4.65%) Mar 05, 18:59
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323