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Shreyas Shipping surges on inking MOA for acquisition of two vessels

29 Sep 2017 Evaluate

Shreyas Shipping & Logistics is currently trading at Rs. 451.95, up by 19.65 points or 4.55% from its previous closing of Rs. 432.30 on the BSE.

The scrip opened at Rs. 447.80 and has touched a high and low of Rs. 465.30 and Rs. 447.80 respectively. So far 4,701 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 470.00 on 21-Sep-2017 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. 465.30 and Rs. 409.50 respectively. The current market cap of the company is Rs. 985.89 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 inked two Memorandum of Agreement (MOA) for acquisition of one multipurpose vessel of about 650 teus and one container vessel of 4200 teus respectively. The delivery of both the vessels is expected by mid October, 2017.

Recently, the company had signed a MOA for acquisition of one container vessel of about 1500 teus. The delivery of the vessel was expected by mid October, 2017.

Shreyas Shipping & 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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