Shipping shares in focus; GE Shipping surges 14% to hit over 3-year high

In the past two weeks, GE Shipping has rallied 36 per cent after HDFC Mutual Fund bought an additional over 2 per cent stake in the company via open market

Shares of shipping companies were in focus at the bourses, on Wednesday, with the stock of Great Eastern (GE) Shipping hitting an over three-year high of Rs 391.80 after rallying 14 per cent on the BSE in intra-day trade. The stock surpassed its previous high of Rs 349.75, touched on Tuesday. It is trading at its highest level since February 2018.

Among the other individual stocks, Shreyas Shipping & Logistics was locked in 20 per cent upper circuit at Rs 98, also its 52-week high, on the BSE. Essar Shipping soared 17 per cent to Rs 9.26 on the