Varun Shipping sails high on towing vessel purchase

DALAL STREET SPIKES

Varun Shipping surged 7 per cent to Rs 72.70 after the company announced during market hours that it has acquired the country's third largest anchor-handling and towing supply vessel.

The scrip opened at Rs 70 and went on to achieve a high of Rs 77 and a low of Rs 69.80 during Friday's trading session. A total of 1,47,656 shares changed hands at the BSE.

The scrip has climbed up 11.16 per cent in the last one week. It is mainly operational in the transportation of hydro-carbons and bulk commodities in the wet, dry bulk, gas and chemical sectors.