Great Eastern (GE) Shipping Company recoverd most of its losses and ended flat at Rs 239, down Rs 2. The stock clocked a volume of 463,030 shares on the BSE today.
Updated at 1413 hrs
Great Eastern (GE) Shipping Company has slumped from the day's high following drop in Q4 net.
The stock had soared to a high of Rs 251 in the morning following rise in shipping stocks due to the Bharati-Great Offshore deal. It tumbled in mid noon trades to a low of Rs 225 - down over 10% from the day's high.
The stock is trading at Rs 229, down almost 5%. Around 368,740 stocks have traded hands at the counter so far.
According to a release issued by the company to the BSE today, the net profit has dropped 16.5% to Rs 250.05 crore for the quarter ended March 31,2009 from Rs 299.41 crore for the corresponding quarter a year ago. The total income has declined 25% from Rs 824.34 crore in Q4FY08 to Rs 622.41 crore in Q4FY09.
Further, the company's board has declared a final payout of Rs 3 per share for the fiscal year FY09.
