Every time, Great Eastern Shipping delivers a vessel, the market celebrates it with a surge in the stock price. Today too, that is the only reason why its price has risen over 3% to Rs.370. Its 52-week low stands at Rs.275 and high at Rs.410.40.
The stock is up on news that its wholly owned subsidiary Greatship (India) has sold and delivered a platform supply vessel — Greatship Disha. The vessel was built in 1999.
The company, however, did not disclose the financial details or the buyer’s identity.
Recently, the company had announced that it took delivery of a second-hand Aframax crude carrier named Jag Leela.