GE Shipping surges on contracting to sell gas carrier ‘Jag Vidhi’

The Great Eastern Shipping Company is currently trading at Rs. 250.05, up by 3.25 points or 1.32% from its previous closing of Rs. 246.80 on the BSE.

The scrip opened at Rs. 249.80 and has touched a high and low of Rs. 250.80 and Rs. 241.25 respectively. So far 13577 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 369.35 on 17-Jan-2020 and a 52 week low of Rs. 168.95 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 277.15 and Rs. 235.00 respectively. The current market cap of the company is Rs. 3676.37 crore.

The promoters holding in the company stood at 29.13%, while Institutions and Non-Institutions held 43.35% and 27.51% respectively.

Great Eastern Shipping Company (GE Shipping) has contracted to sell its 1996 built Very Large Gas Carrier, Jag Vidhi, of about 78,503 cbm. The vessel will be delivered to the new buyer in Q3 FY 2020-21.

Including Jag Vidhi, the company’s current fleet stands at 46 vessels, comprising 33 tankers (11 crude carriers, 17 product tankers, 5 LPG carriers) and 13 dry bulk carriers with an average age of 12.37 years aggregating 3.70 mn dwt.

Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.

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