Great Eastern Shipping (G E Shipping) advanced 2.78% to Rs 316.20 after HDFC mutual fund acquired 2.10% stake in the shipping company via open market on Thursday, 22 April 2021.
Post transaction, HDFC Mutual Fund (HDFC MF) has increased its total stake in GE Shipping to 7.23% from 5.13% stake earlier.
On a consolidated basis, GE Shipping's net profit dropped 46.7% to Rs 176.33 crore on 30.1% fall in net sales to Rs 753.24 crore in Q3 December 2020 over Q3 December 2019.
GE Shipping is India's largest private sector shipping service provider. The business operates under two main businesses: dry bulk carriers and tankers.
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