Rs. 8.10/Share Dividend: Will Be Paid By Feb-20, Record Date - Feb-3; Will It Drive Investor Interest?

Shipping and offshore are the two primary operations of Great Eastern Shipping Company. The shipping industry handles the transportation of dry bulk products, crude, petroleum products, and crude oil. Through its subsidiary Greatship (India) Limited, the offshore business provides services to oil corporations in order to conduct offshore exploration and production activities.

Great Eastern Shipping Company Dividend

The Board of Directors "Declared an interim dividend of Rs. 8.10 per share to the equity shareholders of the Company. The 'Record Date' fixed for the purpose of ascertaining the shareholders eligible for receiving interim dividend is February 03, 2025. The interim dividend will be paid to the shareholders on or after February 20, 2025," said Great Eastern Shipping Company in a stock exchange filing.

Great Eastern Shipping Company Q3 Financials

The business recorded net sales of Rs 878.50 crore for the December 2024 quarter, which was 11.81% less than the Rs 996.18 crore for the December 2023 quarter. In Q3FY25, its net profit was Rs. 678.63 crore, increasing 39.13% from Q3FY24's Rs. 487.77 crore. EBITDA increased 27.57% from Rs. 686.08 crore in the year-ago quarter to Rs. 875.26 crore in the quarter under review.

Great Eastern Shipping Company Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said "GESHIP has been in a persistent downtrend over the past several months but is now showing signs of stabilization near its recent lows. The stock is currently trading at 931.25 and faces immediate resistance at 951, which coincides with the 20-day EMA. A decisive breakout above this level could open the door for a short-term rally towards 1030, with the next key resistance at 1094, aligning with the 200-day EMA. Sustaining above these levels would indicate a potential shift in trend."

"Despite the ongoing weakness, momentum indicators suggest early signs of recovery. The RSI is currently at 43.87 and trending upward, reflecting growing buying interest. However, the stock continues to trade below its 20-day, 50-day, 100-day, and 200-day EMAs, indicating that it remains in a broader downtrend. A close above 951 would be the first sign of strength, confirming a reversal attempt," the analyst added.

"On the downside, immediate support is seen at 900, with a crucial level at 880. Any breach below 880 could invalidate the current recovery setup, leading to further downside pressure. Traders should maintain a strict stop-loss at this level to manage risk effectively. Derivative data and price action suggest that a breakout above 951 could attract fresh buying, pushing the stock towards higher targets. A move past 1030 would further strengthen bullish sentiment, while sustained momentum beyond 1094 would confirm a larger trend reversal," Mandar Bhojane further commented.

Disclaimer

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