Great Eastern Shipping Co Ltd up by 10.65%: Market Update By Espresso

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Espresso Shot of the Day - Great Eastern Shipping Co Ltd up by 10.65 percent

May 18, 2022
Espresso Shot of the Day - Great Eastern Shipping Co Ltd up by 10.65 percent

GREAT EASTERN SHIPPING CO. LTD 440.70  (+10.65%) BSE – INE017A01032 | 18THMAY 2022

https://www.myespresso.com/images/Binge-graph-image_-GREAT-EASTERN-SHIPPING-CO-202205181800558301791.jpg

The Great Eastern Shipping Company Limited owes its success to the foresightedness of two families - the Sheths and the Bhiwandiwallas, who started their own shipping line to help expand the reach of their trading businesses. In 1948, after obtaining the mothballed Liberty ship, SS Fort Elice, G E Shipping began its maiden voyage under the entrepreneurial genius of Vasant J. Sheth and steered ahead confidently, tasting new waters and exploring new avenues. From providing sea-logistics support in its initial years to venturing in tramp shipping, to diversifying into offshore oil field services, much against the industry norms, the company has often swum against the tide and in the process, turned the tides in its favour, thereby laying a path for others to follow.

Recent Drivers

  • On May 06, 2022, the company reported a Net Sales at Rs.916.17 crores in March 2022, up 23.82% from Rs.739.95 crores in March 2021.
  • On May 06, 2022, the company reported a Quarterly Net Profit of Rs.188.97 crores in March 2022, up 285.57% from Rs.49.01 crores in March 2021.
  • On May 06, 2022, the company approved a 2nd interim dividend of Rs.5.40/- per share
  • On May 06, 2022, the company approved the issue of Non-Convertible Debentures up to an amount not exceeding Rs.1000 crores by way of private placement.
  • On May 06, 2022, the company appointed Mr. Shivshankar Menon, Mr. T.N. Ninan and Mr. Uday Shankar as Additional and Independent Directors
 (Sources: Moneycontrol, BSE)      
                                                                                                        

Technical Force*

  • S&P BSE SmallCap month till date gain up by -5.87%
  • Traded on a new 52-week high value 477.00
  • 3 months avg. volume of NSE: 3,56,515
  • Quantity traded: 1, 21,445 | Deliverable Quantity: 51,045 (42.03%)
  • Stock price jumped by more than 65% from a one-year low level: 265.05 (Dec 20, 2021)
  • Daily RSI (14) is nearby Overbought territory today
  • 52-week-high: 477.00 | 52-week-low: 265.05


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

688.27

582.63

440.27

334.63

192.27

86.63

-

    -

Fibonacci Pivot

582.63

487.90

429.37

391.67

334.63

277.59

239.90

181.37

86.63


Today’s Close

440.70

SMA

BSE

10 DAY

383.22

20 DAY

386.95

50 DAY

363.77

200 DAY

334.86


Some Key Ratios (Source: BSE)

Market Cap: 6,476.81 Crores

PE: 7.75

OPM%: 49.55

ROE%: 12.35

Promoters holding%: 30.06

Prev. Close: 398.30


*Chart and Technical Force data from the Binge desktop app
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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.