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GE Shipping surges on contracting to sell its Suezmax Crude Carrier ‘Jag Lakshita’

Great Eastern Shipping Company (GE Shipping) is currently trading at Rs. 304.25, up by 5.00 points or 1.67% from its previous closing of Rs. 299.25 on the BSE.

The scrip opened at Rs. 307.55 and has touched a high and low of Rs. 308.00 and Rs. 303.05 respectively.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 353.00 on 19-Dec-2018 and a 52 week low of Rs. 212.20 on 06-Aug-2019.

Last one week high and low of the scrip stood at Rs. 304.80 and Rs. 294.00 respectively. The current market cap of the company is Rs. 4417.00 crore.

The promoters holding in the company stood at 30.07%, while Institutions and Non-Institutions held 44.31% and 25.62% respectively.

Great Eastern Shipping Company (GE Shipping) has contracted to sell its 2000 built Suezmax Crude Carrier Jag Lakshita of about 147,092 dwt. The vessel will be delivered to the new buyer in Q3 FY 2019-20. Including Jag Lakshita, the company’s current fleet stands at 47 vessels, comprising 34 tankers (12 crude carriers, 17 product tankers, 5 LPG carriers) and 13 dry bulk carriers with an average age of 11.98 years aggregating 3.85 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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