GE Shipping hits over 14-year high, stock zooms 83% thus far in 2022

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.

Shares of Great Eastern (GE) Shipping Company hit an over 14-year high of Rs 545, as the stock rallied 5 per cent on the BSE in Tuesday’s intra-day trade in an otherwise range-bound market owing to healthy earnings and strong outlook. In comparison, at 10:45 am; the S&P BSE Sensex was down 0.34 per cent at 58,571, after hitting a high of 59,068 in intra-day trade.

The stock of shipping company traded at its highest level since January 2008. It quoted close to its record high level of Rs 572 touched on December 31, 2007. Thus far in the