India's Great Eastern Shipping up on contract to buy vessel

Seamec

07/06/2024 09:13

** Shares of Great Eastern Shipping Company  GESC.NS  rise
2.5% to 1096.7 rupees
    ** Co signs contract to buy medium range product tanker of
about 49,990 dwt to expand, modernise fleet
    ** Stock up for third straight day; trading above key 50-,
100-, 200- day moving avgs
    ** More than 814,000 shares traded, 0.6x its 30-day avg
    ** Stock up 12% YTD, continuing a rally for fourth
consecutive year; peers Seamec Limited  SEAM.NS  and Shipping
Corporation of India  SCI.NS  are up ~2% and ~50%, respectively

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))