/ GE Shipping Adds New Vessel To Its Fleet, Stock Tanks Over 2% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 17 March 2017

GE Shipping on Friday announced that the company has signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt. The vessel is a 2006 build and is expected to join the company’s fleet in Q1FY18. GE Shipping on the NSE is trading at Rs 384 per share, down by 2.2%. The stocks hit an intraday high of Rs 393 per share and a intraday low of Rs 383 per share in Friday's trade.

In a period of one year the stock had delivered 24% returns, underperforming the BSE Mid-cap and Nifty Service Sector indices over the same time span.

The Great Eastern Shipping Company Limited is engaged in the business of providing shipping services. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. Its offshore business services the oil companies in carrying out offshore exploration and production activities.

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