Shipping Stock Under Rs 50 Hits Upper Circuit Today: Company to Announce Quarterly Results on August 8!

The company’s shares have delivered a multibagger return of over 330 per cent in the past 1 year.

Incorporated in 2010, Essar Shipping Ltd is involved in fleet operating and chartering activities, operating both international and coastal voyages. The company is an integrated logistics services provider engaged in sea transportation, logistics services, and oilfield services. It conducts fleet operating and chartering activities and operates international and coastal voyages.

At the start of the day's trading session, shares of Essar Shipping Ltd opened at Rs 47.35 per share, compared to the previous day's closing figure of Rs 48.23 per share on the BSE. Finally, the shares closed at Rs 49.40 per share. The stock has rallied 5 per cent today and hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 1009.42 crore, and the stock has generated an impressive multibagger return of over 330 per cent in the past 1 year.

As per the Quarterly Results, in Q4 FY24, Essar Shipping Ltd recorded a revenue of Rs 3 crore representing a de-growth of 82 per cent YoY from Rs 14 crore. The operating loss for Q4 FY24 stood at Rs 32 crore. The net loss for Q4 FY24 was Rs 53 crore compared to a profit of Rs 363 crore. Looking at the annual performance, the company generated a revenue of Rs 20 crore in FY24, compared to Rs 61 crore in FY23. The operating loss for FY24 was Rs 67 crore with a net loss of Rs 104 crore.

According to the shareholding pattern of Essar Shipping Ltd, promoters own a 73.75 per cent stake, while public investors hold 26.21 per cent. FIIs hold a 0.01 per cent stake and DIIs own a 0.02 per cent in Q1 FY25.

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

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