Shreyas Shipping & Logistics rose 3.42% to Rs 333 at 10:05 IST on BSE after the company announced that it has recently entered into a vessel sharing arrangement with Shipping Corporation of India.
The announcement was made after market hours yesterday, 6 June 2016.Shares of Shipping Corporation of India (SCI) were up 0.3% at Rs 67.40.
Meanwhile, the S&P BSE Sensex was up 100.56 points or 0.38% at 26,878.01.
On BSE, so far 7,853 shares of Shreyas Shipping & Logistics (Shreyas) exchanged hands on the counter compared with average daily volume of 38,000 shares in the past two weeks. The stock hit a high of Rs 339.90 and a low of Rs 328.40 so far during the day. The stock had hit a 52-week high of Rs 839.50 on 5 August 2015. The stock had hit a 52-week low of Rs 133.10 on 17 February 2016.
Shreyas said that it has recently entered into a vessel sharing arrangement (VSA) with Shipping Corporation of India (SCI) on two of the services connecting East coast of India to West coast of India and vice versa along with Persian Gulf with addition of new ports commencing with effect from 9 June 2016.
On consolidated basis, Shreyas Shipping & Logistics' net profit fell 58.55% to Rs 15.10 crore on 21.81% growth in total income to Rs 176.04 crore in Q4 March 2016 over Q4 March 2015.
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Shreyas Shipping & Logistics is the ship owning and operating unit of Transwortd Group in the Indian subcontinent. The company provides crucial links between Indian ports which helps in providing door-to-door logistics solutions through its wholly-owned subsidiary company Shreyas Relay Systems and also assists transhipment of cargo from these ports.
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