Great Eastern Shipping Company rose 1.09% to Rs 389 at 10:23 IST on BSE after the company said that it raised Rs 500 crore by allotting unsecured non-convertible debentures.
The announcement was made before trading hours today, 19 January 2017.Meanwhile, the BSE Sensex was up 10.12 points, or 0.04%, to 27,267.76.
On the BSE, so far 1,156 shares were traded in the counter, compared with average daily volumes of 16,246 shares in the past one quarter. The stock had hit a high of Rs 393 and a low of Rs 386.40 so far during the day.
The stock hit a 52-week high of Rs 397.60 on 1 November 2016. The stock hit a 52-week low of Rs 275 on 2 March 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 5.96% compared with the 3.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, falling 0.10% as against Sensex's 3.10% decline.
The mid-cap company has equity capital of Rs 150.78 crore. Face value per share is Rs 10.
Great Eastern Shipping Company said that the debenture issue committee, at its meeting held 16 January 2017, allotted 7.99% 5,000 unsecured non-convertible debentures of face value of Rs 10 lakhs each, aggregating to Rs 500 crore, in two tranches of Rs 250 crore each.
On a consolidated basis, net profit of GE Shipping declined 23.99% to Rs 268.75 crore on 21.12% decline in net sales to Rs 794.51 crore in Q2 September 2016 over Q2 September 2015.
GE Shipping has two main business: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).
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