Monday 9 May 2016

GE Shipping approves allotment of NCDs up to Rs.250 crore

Great Eastern Shipping Company Ltd has announced that the Debenture Issue Committee has at its meeting held on May 09, 2016 approved the allotment of 2,500 Unsecured Non-Convertible Debentures.

GE Shipping
With reference to the earlier letter dated April 29, 2016, Great Eastern Shipping Company Ltd has announced that the Debenture Issue Committee has at its meeting held on May 09, 2016 approved the allotment of 2,500 Unsecured Non-Convertible Debentures of face value of Rs. 10 lakhs each aggregating to Rs. 250 crore (tranche 1).

Great Eastern Shipping Company Ltd is currently trading at Rs. 315, up by Rs. 6.55 or 2.12% from its previous closing of Rs. 308.45 on the BSE.

The scrip opened at Rs. 310 and has touched a high and low of Rs. 316 and Rs. 310 respectively. So far 27601(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4650.72 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 420 on 10-Nov-2015 and a 52 week low of Rs. 275 on 02-Mar-2016. Last one week high and low of the scrip stood at Rs. 335 and Rs. 301.75 respectively.

The promoters holding in the company stood at 30.42 % while Institutions and Non-Institutions held 42.25 % and 27.02 % respectively.

The stock is currently trading above its 200 DMA.

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