Shreyas Shipping signs MOA for acquisition of multipurpose vessel

Shreyas Shipping and Logistics Limited, a container feeder owning and operating company, announced on Friday that it has signed a Memorandum of Agreement (MOA) for the acquisition of one multipurpose vessel of about 1100 teus.

Jul 16, 2017 02:07 IST India Infoline News Service

Shreyas Shipping
Shreyas Shipping and Logistics Limited, a container feeder owning and operating company, announced on Friday that it has signed a Memorandum of Agreement (MOA) for the acquisition of one multipurpose vessel of about 1100 teus. The delivery of the vessel is expected in the first week of September 2017.
 
Other information like the seller identity and the financial details was not disclosed by the company.
 
On the Friday trading session, the company closed at Rd 329.10, down by 2.59% on BSE. It touched its intraday high and low at Rs 343 and Rs 326.45, respectively. The company’s 52 week high stood at Rs 444 and low at Rs 193.10.
 
Shreyas Shipping and Logistics, is an Indian flagged vessel owning unit of Transworld Group. The company is a pioneer and market leader in domestic coastal container shipping, covering all the main ports and container terminals on the Indian coast.  
 
Stock View:
 
Shreyas Shipping & Logistics Ltd ended at Rs 329.1, down by Rs 8.75 or 2.59% from its previous closing of Rs 337.85 on the BSE.
 
The scrip opened at Rs 343 and touched a high and low of Rs 343 and Rs 326.45 respectively. A total of 32437(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 722.7 crore.
 
The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 464.55 on 11-Jul-2016 and a 52 week low of Rs 193.1 on 26-Dec-2016. Last one week high and low of the scrip stood at Rs 348 and Rs 326.45 respectively.
 
The promoters holding in the company stood at 73.25 % while Institutions and Non-Institutions held 1.12 % and 25.63 % respectively.
 
The stock traded below its 50 DMA.

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