GE Shipping jumps on buyback plan

Great Eastern Shipping Company (GE Shipping) rose 7.51% to Rs 296.50 after the company said its board will consider a share buyback on 27 December 2021.

Promoters held 29.21% stake in GE Shipping as on September 2021.

On a consolidated basis, net profit of GE Shipping declined 1.06% to Rs 223.06 crore on 14.20% rise in net sales to Rs 885.01 crore in Q2 September 2021 over Q2 September 2020.

G E Shipping is India's largest private sector shipping service provider enjoying a formidable presence in the international maritime industry. The shipping business operates under two main businesses: dry bulk carriers and tankers.

 

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