GE Shipping climbs higher on the bourses

Great Eastern Shipping Company (GE Shipping) is currently trading at Rs. 248.80, up by 1.70 points or 0.69% from its previous closing of Rs. 247.10 on the BSE.

The scrip opened at Rs. 249.60 and has touched a high and low of Rs. 250.85 and Rs. 245.00 respectively. So far 8,123 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 294.50 on 05-Jul-2011 and a 52 week low of Rs. 183.00 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 259.60 and Rs. 245.00 respectively. The current market cap of the company is Rs. 3,788.00 crore.

The promoters holding in the company stood at 29.86% while Institutions and Non-Institutions held 37.81% and 32.12% respectively.

Greatship (India) (GIL), a subsidiary of GE Shipping has now become a wholly owned subsidiary of the company. This is pursuant to acquisition of balance 1.89% shares of GIL by the company. Earlier, GE Shipping was holding 98.11% equity share capital of GIL.

GE Shipping is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore. The shipping business includes transportation of crude oil, petroleum products, gas and dry bulk commodities, while the offshore business caters to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India).