Shreyas Shipping sails ahead after acquiring vessel

Shreyas Shipping & Logistics rose 1.85% to Rs 335.20 at 14:20 IST on BSE after the company signed memorandum of understanding for acquisition of multipurpose vessel of about 1,100 twenty-foot equivalent units.

The announcement was made by the company after market hours on Friday, 14 July 2017.

Meanwhile, the S&P BSE Sensex was up 76.56 points, or 0.24% to 32,097.31. The S&P BSE Small-Cap index was up 15.80 points, or 0.1% to 15,923.81.

On the BSE, 2,232 shares were traded in the counter so far, compared with average daily volumes of 11,016 shares in the past one quarter. The stock had hit a high of Rs 345 and a low of Rs 331.50 so far during the day. The stock had hit a 52-week high of Rs 464.55 on 11 July 2016. The stock had hit a 52-week low of Rs 193.10 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, gaining 3.69% compared with 2.78% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 3.05% as against Sensex's 8.69% gains. The scrip had also underperformed the market in past one year, dropping 24.97% as against Sensex's 14.6% rise.

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

Shreyas Shipping & Logistics said that the delivery of the vessel is expected in the first week of September 2017.

On a consolidated basis, Shreyas Shipping & Logistics reported net loss of Rs 9.94 crore in Q4 March 2017 as against net profit of Rs 15.11 crore in Q4 March 2016. Net sales rose 4.7% to Rs 184.31 crore in Q4 March 2017 over Q4 March 2016.

Shreyas Shipping & Logistics, the Indian flagged vessel owning unit of Transworld Group, is a pioneer and market leader in domestic coastal container shipping covering all main ports and container terminals on the Indian coast.

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