GE Shipping gains on contracting to sell 2005 built medium range product Tanker `Jag Padma`
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Great Eastern Shipping Company is currently trading at Rs. 1290.20, up by 2.80 points or 0.22% from its previous closing of Rs. 1287.40 on the BSE.
The scrip opened at Rs. 1299.95 and has touched a high and low of Rs. 1299.95 and Rs. 1274.10 respectively. So far 6221 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1542.80 on 11-Jul-2024 and a 52 week low of Rs. 728.10 on 09-Nov-2023.
Last one week high and low of the scrip stood at Rs. 1299.95 and Rs. 1191.50 respectively. The current market cap of the company is Rs. 18421.96 crore.
The promoters holding in the company stood at 30.07%, while Institutions and Non-Institutions held 40.32% and 29.61% respectively.
Great Eastern Shipping Company (GE Shipping) has contracted to sell its 2005 built Medium Range product tanker, Jag Padma of about 47,999 dwt on October 31, 2024 to an unaffiliated third party. The vessel will be delivered to the new buyer by Q3FY25.
Including Jag Padma, company’s current fleet stands at 41 vessels, comprising 28 tankers (6 crude carriers, 18 product tankers, 4 LPG carrier) and 13 dry bulk carriers (2 Capesize, 8 Kamsarmax, 3 Supramax) aggregating 3.31 mn dwt.
Additionally, the company has contracted to sell one Suezmax crude tanker in Sep 2024, which is due for delivery by Q3FY25.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
