Great Eastern Shipping Co Ltd up by 16.81 percent | Espresso


Espresso shot of the day – Great Eastern Shipping Co Ltd up by 16.81 percent

May 05, 2021
Espresso shot of the day – Great Eastern Shipping Co Ltd up by 16.81 percent

GREAT EASTERN SHIPPING CO LTD 402.40 (+16.81%) BSE – INE017A01032 | 5TH MAY 2021

The Great Eastern Shipping Company Limited owes its success to the foresightedness of two families - the Sheths and the Bhiwandiwallas, who started their own shipping line to help expand the reach of their trading businesses. In 1948, after obtaining the mothballed Liberty ship, SS Fort Elice, G E Shipping began its maiden voyage under the entrepreneurial genius of Vasant J. Sheth and steered ahead confidently, tasting new waters and exploring new avenues. From providing sea-logistics support in its initial years to venturing in tramp shipping, to diversifying into offshore oil field services, much against the industry norms, the company has often swum against the tide and in the process, turned the tides in its favour, thereby laying a path for others to follow.

Recent Drivers

  • On 5th May 2021, HDFC Mutual Fund bought an additional stake over 2 % in Great Eastern Shipping Company Limited via open market, Post acquisition, HDFC Mutual Fund holding in The Great Eastern Shipping Company Limited increased to 7.23 % from 5.13 % earlier.
  • On 5th May 2021, According to a Reuters report, the Baltic exchange’s main sea freight index rose, led by the highest capesize vessel rates in nearly 11 years. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, added 104 points, or 3.4 per cent, to a near 11-year peak of 3,157.
  • Board will meet in May 2021 to consider issue of non-convertible debentures upto an amount not exceeding Rs 1,000 crores by way of private placement during the period of one year.
  • On 20th April 2021, Great Eastern Shipping Company Limited took delivery of a second-hand Midsize Gas Carrier Jag Vikram of about 35,188 cbm. The company had contracted to buy the vessel in Q4 FY21, including this vessel, the Company’s current fleet stands at 46 vessels. The company has previously contracted to buy a 2013 built Japanese Supramax Bulk Carrier which is expected to be delivered in Q1 FY 2021-22.
  • Great Eastern Shipping Company Limited reported quarterly net profit at Rs 176.33 crores in December 2020.
  • Great Eastern Shipping Company Limited reported net sales at Rs 753.24 crores in December 2020.

(Sources: Moneycontrol, Business Standard )

Technical Force*

  • S&P BSE 500 month till date gain up by 0.38 %
  • Traded on new 52 week high value 413.40
  • Spurt in Volume by more than 2.65 times compare to previous vol. 3 months avg volume of NSE – 5,62,331
  • Quantity traded – 3,28,609 Deliverable quantity – 72,886 (22.18%)
  • Stock price has jumped more than 110 % from one year low level –  189.20, 1 June 2020
  • Daily RSI (14) is in overbought territory today
  • 52 week high – 413.40 | 52 week low­­ – 189.20

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Some Key Ratios (Source: BSE)

Market Cap: 5,913.93 crores

PE: 6.77

OPM%: 55.17

ROE%: 15.32

Promoters holding: 29.21

Prev. Close: 344.50

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.