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GE Shipping hits 52-week high on heavy volumes

The stock was up 7% to Rs 413 on BSE

SCI, Shipping Corporation
premium

Shipping Corporation of India

SI Reporter Mumbai
Great Eastern Shipping (GE Shipping) has risen to its 52-week high of Rs 413, up 7% on BSE on back of heavy volumes, in otherwise weak market.

The trading volumes on the counter jumped multiple folds with a combined 1.11 million shares changed hands on BSE and NSE till 10:24 am; as compared to sub 100,000 shares that were traded daily in past two weeks.

GE Shipping on Friday, March 17, announced that the company has signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt.

The 2006 built vessel is expected to