250 per cent returns: This multibagger shipping company takes delivery of tanker, Jag Parth and signs contracts to buy a Kamsarmax Dry Bulk Carrier!
The stock gave multibagger returns of over 250 per cent in just 3 years with a PE of 4.91x and an ROE of 29.22 per cent.
The Great Eastern Shipping Company Limited (G E Shipping) took delivery of a 2008 built medium range (MR) product tanker “Jag Parth” of about 46,197 dwt. The company had contracted to buy the vessel in Q2FY24. Additionally, the company has signed contracted to buy a Kamsarmax Dry Bulk Carrier of about 80,919 dwt on October 27, 2023. The 2014 built vessel is expected to join the company’s fleet in Q3FY24.
The Company’s current fleet stands at 42 vessels, comprising 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carriers) and 13 dry bulk carriers aggregating 3.33 Mn dwt. The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is modernization and expansion of the fleet.
Earlier, the company has contracted to sell its 2006 built Supramax Dry Bulk Carrier, Jag Rohan of about 52,450 dwt on September 27, 2023, to an unaffiliated third party. On October 12, 2023, the company delivered its 2006-built Supramax Dry Bulk Carrier “Jag Rohan” to the buyers.
Great Eastern Shipping Company Ltd, along with its subsidiaries is a major player in the Indian shipping and Oil drilling services industry. The company has a market cap of Rs 12,165 crore and has delivered good profit growth of 54 per cent CAGR over the last 3 years. The stock is trading at 1.06 times its book value and is providing a good dividend yield of 3.48 per cent with a healthy dividend payout of 17.6 per cent.
On Monday, shares of G E Shipping plunged 2.74 per cent to Rs 742.25 per share with an intraday high of Rs 765 and an intraday low of Rs 734.3.
The stock gave multibagger returns of over 250 per cent in just 3 years with a PE of 4.91x and an ROE of 29.22 per cent. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Related articles
-
Rs 47,350 crore projects: This multibagger power generation company signs 4 MoU with Government of Gujarat – know more here!
-
Rs 30,00,00,00,000 revenue potential: This multibagger chemicals company enters into a long-term supply contract with a Global Agrochem; scrip hit 52-week high!
-
FIIs & DIIs collectively bought 1,08,36,584 shares of this multibagger stock with low PE and high ROE; scrip hit 52-week high!
-
LIC-backed multibagger railway logistics stock: This company signs an MoU with Schenker India Private Limited – know more here!
-
Rs 1,50,000 crore order book: This multibagger heavy electrical equipment company signs MoU with Government of India; scrip hit back-to-back 52-week high!
-
Low PE high ROE multibagger penny stock below Rs 5: This micro-cap NBFC company firmed up its plan to apply for a licence for Alternative Investment Fund Category – II
-
Rs 2100,00,00,000 GDV project: This multibagger construction company signs joint development agreement with Krishna Priya Estates Pvt Ltd and Micro Labs Ltd
-
300 per cent returns in this low PE high ROE multibagger stock: This shipping company delivers its 2006 built Supramax Dry Bulk Carrier, Jag Rohan!
-
Rs 8,000 crore project: This metals manufacturing company signs an MoU with Odisha Mining Corporation!
-
Low PE high ROE multibagger stock: This textile company to install 8.334 MW solar power plant worth Rs 39.08 crore!
-
Rs 10,000+ crore orders received: This civil construction company bags another order worth Rs 121.05 crore!
-
52-week high alert: This multibagger Semiconductor Software company got approval for DLI application for the development of a smart energy meter IC from Government of India
-
Adani Group-backed aerospace & defence company signs landmark cooperation agreement with EDGE Group
-
Debt-free drone company signs MoU with Chennai’s Zuppa Geo Navigation Technologies Pvt Ltd; details inside!
-
BNP Paribas bought 9,86,663 shares & Promoters bought over 5 per cent stake of this stock under Rs 65; Company into expansion as it acquired IT-Cube for Rs 84 crore
-
2:1 bonus share, 2:1 stock split & 2,480 per cent multibagger returns: This electric vehicle (EV) loan provider company allots 7,65,000 shares upon conversion of warrants
-
1:1 bonus share and promoter & FIIs increase stake: This steel tube manufacturer company has achieved the highest ever revenue of Rs 2,040.23 crore!
-
Rs 36,355 crore order book: LIC-backed multibagger construction stock below Rs 70; Company reports a 94 per cent jump in net profit to Rs 324.2 crore!
-
3,500 per cent multibagger returns: This electric vehicle (EV) loan provider company allots non-convertible debentures worth Rs 24,84,00,000 to 2 investors!
-
Rs 400,00,00,000 project: This multibagger railway construction company signs MoU with UNECO Co., Ltd