Heavy Buying Shipping Stock Rallies Over 6 Per cent Today Amid Bearish Market - FIIs Increase Stake in Q2 FY25

The company’s shares have delivered an impressive return of around 70 per cent in the past 1 year.

Founded in 1948 with the purchase of a Liberty ship, Great Eastern Shipping Company Ltd (GE Shipping) has grown into India's largest private sector shipping company by FY24. As of FY24, GE Shipping and its subsidiaries operate over 40 ships and 20 offshore assets, cementing its position as a major player in the Indian shipping and oil drilling services industry. Today the company’s stock rallies over 6 per cent even when the major indices like Nifty50 and Sensex trading in red.

Currently, the shares of Great Eastern Shipping are trading at around Rs 1316 per share. The company’s current market capitalization stands at Rs 19,318 crore. The stock has delivered a return of around 70 per cent in the past year.

As per the Quarterly Results, in the first quarter of FY25, GE Shipping recorded a revenue of Rs 1508 crore compared to Rs 1284 crore representing a growth of 17.50 per cent. The operating profit stood at Rs 911 crore with a margin of around 60 per cent. The net profit for the period was Rs 812 crore compared to Rs 576 crore. Looking at the annual performance, the company generated a revenue of Rs 5255 crore in FY24, compared to Rs 5690 crore in FY23. The operating profit for FY24 was Rs 3022 crore with a net profit of Rs 2614 crore.

According to the shareholding pattern, promoters own 30.08 per cent, a 29.59 per cent is owned by public investors. FIIs and DIIs own 24.64 per cent and 15.68 per cent stake  the company respectively. FIIs increased their stake from 24.51 per cent to 24.64 per cent in Q2 FY25.

Investors must keep this Small-Cap shipbuilding stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.