Shreyas Shipping gains after acquiring container vessel

Shreyas Shipping & Logistics was up 0.47% to Rs 690 at 13:40 IST on BSE after the company said it acquired a container vessel worth $2.9 million.

The announcement was made during trading hours today, 23 June 2015.

Meanwhile, the BSE Sensex was up 106.53 points, or 0.38%, to 27,836.74.

On BSE, so far 7,428 shares were traded in the counter, compared with an average volume of 18,067 shares in the past one quarter.

Trading in the counter was volatile. The stock rose 3.09% at the day's a high of Rs 708 so far during the day. The stock fell 0.25% at the day's low of Rs 685 so far during the day.

The stock hit a record high of Rs 714 on 12 June 2015. The stock hit a 52-week low of Rs 32 on 31 July 2014.

The stock had outperformed the market over the past one month till 22 June 2015, rising 25.43% compared with 0.81% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 80.72% as against Sensex's 1.88% fall.

The small-cap company has an equity capital of Rs 21.96 crore. Face value per share is Rs 10.

Shreyas Shipping & Logistics announced that it signed a Memorandum of Understanding (MoU) for acquisition of one container vessel, ''M.V. Hub Gallardo''. The size of the vessel is 700 twenty-foot equivalent units (TEUs) and the price of the vessel is $2.9 million.

Shreyas Shipping & Logistics reported net profit of Rs 36.44 crore in Q4 March 2015 as against net loss of Rs 8.30 crore in Q4 March 2014. Net sales rose 7.82% to Rs 144.49 crore in Q4 March 2015 over Q4 March 2014.

Shreyas Shipping and Logistics is a container feeder owning and operating company.

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