Shares Of GE Shipping In Intra-Day Trade Rallied

The shares of Great Eastern Shipping Company have witnessed a surge of 9% at today's highest in--intraday trade touching Rs 299.70 on BSE. Now, it is running at over 6%, close to 7%. The surge came after the company announced its plan for share buyback. The company's board of directors will meet on Monday, December 27, 2021, to examine and accept a proposal for the buyback of the company's equity shares, according to the company.

The company was founded in 1948, post-independence. The company is India's largest private sector shipping company, which mainly transports gas, liquid, and solid bulk products. As of December 22, 2021, the promoters hold 29.21%, Retail (27.26%), Mutual Funds (21.73%), Foreign Institutions (19.58%), and the rest 2.22% by other domestic institutions.

The stock of the company opened at Rs 295.20 per share with a previous close at 274.30 with a market volume of Rs 29,61,9004. The company's 52 week high was recorded at Rs 445 per share, whereas Rs 295.20 per share was the lowest in the same period recorded.

Last month, November 2021, the company had declared an interim dividend of Rs 4.50/- (45%). The decision was taken at a meeting held on October 29, 2021. The dividend was paid after November 18, 2021.

The company has repoted a consulated financial result for the FY 21 first half, September 30, 2021.

Here is the QoQ and YoY Comparison of Financial Results

QoQ Comparison

Financial Result (Q2 FY2022)

YoY Comparison

Financial Result (Q2 FY2022)