Great Eastern Shipping Company

Shipping stocks rally today: hipping Corporation of India (SCI) share price soared 19.3 per cent to hit an all-time high of Rs 328.50 per share

Among shipping stocks - SCI, GE Shipping and Dredging have logged multi-fold returns over the last few years; here's what the chart suggests for the likely trend going ahead.

Great Eastern Shipping Company Ltd (GE Shipping), the country's largest private ship liner, on Friday reported a nearly four-fold jump in its consolidated net profit to Rs 721.94 crore in the March 2023 quarter. GE Shipping had posted a profit of Rs 188.97 crore in the year-ago period, the company said in a BSE filing. Its total consolidated income during the quarter under review rose to Rs 1,550.72 crore as against Rs 983 crore in the corresponding quarter a year ago. Total expenses during January-March increased to Rs 853.22 crore as compared with Rs 791.85 crore in the year-ago quarter. The company in its earnings presentation said crude and product tanker spot earnings remain elevated led by trade disruptions caused by the Russia-Ukraine war. EU's embargo on Russian imports has further boosted ton-miles growth, it added. The company's board has declared a fourth interim dividend of Rs 9 per equity share of Rs 10. "While we continue to enjoy the strong rates in the tanker mar

For the April-June quarter (Q1FY23), GE Shipping reported a jump of 142 per cent in consolidated net profit at Rs 457 crore as against Rs 189 crore in Q4FY22.

Patel served as the 24th governor of the Reserve Bank of India from September 2016 to December 2018

The country's largest private ship liner had posted a loss of Rs 53.96 crore in the year-ago period, the company said in a BSE filing.

In April 2003, the Cabinet Committee on Disinvestment had decided to suspend any divestment in SCI.

The stock had hit a high of Rs 409.35 and a low of Rs 395 so far during the day