Shreyas Shipping gains on board nod to buy container vessels

The board has approved a plan for aquisition of four container vessels ranging from 1700 teus to 2,500 teus

Shares of Shreya Shipping and Logistics were locked in 5% upper circuit at Rs 387 after the company said its board has approved plans to expand its fleet by acquiring additional vessels.

The Board of Directors has approved a plan for aquisition of four container vessels ranging from 1700 teus (twenty-foot equivalent units) to 2,500 teus, the company said in a release.

The details of the acquisitions shall me made available to the investors as and when finalised, the release added.

The stock opened at Rs 368 and touched a high of Rs 387. At 12:20PM, nearly 5,000 shares were traded on the Bombay Stock Exchange.