G E Shipping trades higher on the BSE
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The Great Eastern Shipping is currently trading at Rs. 963.85, up by 25.60 points or 2.73 % from its previous closing of Rs. 938.25 on the BSE.
The scrip opened at Rs. 940.15 and has touched a high and low of Rs. 967.90 and Rs. 940.15 respectively. So far 8275 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1043.30 on 29-Jan-2024 and a 52 week low of Rs. 532.00 on 01-Mar-2023.
Last one week high and low of the scrip stood at Rs. 999.25 and Rs. 918.05 respectively. The current market cap of the company is Rs. 13605.71 crore.
The promoters holding in the company stood at 30.07%, while Institutions and Non-Institutions held 43.15% and 26.78% respectively.
Great Eastern Shipping Company (G E Shipping) has contracted to buy a Medium Range product tanker of about 49,999 dwt on February 14, 2024. The 2010 built vessel is expected to join the company’s fleet by Q1FY25.
The company’s current fleet stands at 42 vessels, comprising 28 tankers (6 crude carriers, 18 product tankers, 4 LPG carriers) and 14 dry bulk carriers aggregating 3.36 mn dwt. The company’s current capacity utilization is close to 100%. The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is modernization and expansion of the fleet. Post-delivery of the vessel, it will have 43 vessels aggregating 3.41 mn dwt.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
