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GE Shipping strengthens on inking contract to buy Medium Range product tanker

23 May 2013

Great Eastern Shipping Company is currently trading at Rs. 242.00, up by 0.80 points or 0.33% from its previous closing of Rs. 241.20 on the BSE.

The scrip opened at Rs. 240.15 and has touched a high and low of Rs. 244.40 and Rs. 240.10 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 291.50 on 19-Dec-2012 and a 52 week low of Rs. 204.10 on 23-Apr-2013.

Last one week high and low of the scrip stood at Rs. 248.30 and Rs. 237.30 respectively. The current market cap of the company is Rs. 3666.39 crore.

The promoters holding in the company stood at 29.86% while Institutions and Non-Institutions held 40.52% and 29.40% respectively.

Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a Medium Range (MR) product tanker of about 47,000 dwt. The 2004 built vessel is expected to join the company’s fleet during Q2 FY14.

The company’s current fleet stands at 31 vessels, comprising 22 tankers (9 crude carriers, 12 product carriers, 1 LPG carrier) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax, 1 Handymax) with an average age of 9.6 years aggregating 2.50 mn dwt.

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:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323