ICICI Direct has buy call on Great Eastern Shipping Company with a target price of Rs 290. The current market price of is Rs 272.35.
Great Eastern Shipping Company Ltd., incorporated in the year 1948, is a Mid Cap company (having a market cap of Rs 4026.88 Crore) operating in Shipping sector.
Financials For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 858.81 Crore, up 7.06 % from last quarter Total Income of Rs 802.18 Crore and down 26.65 % from last year same quarter Total Income of Rs 1170.83 Crore. Company reported net profit after tax of Rs 176.33 Crore in latest quarter.
Investment Rationale The brokerage expects stock to resolve higher and head towards Rs 290 levels as it 61.8% retracement of CY-20 decline (Rs 369-Rs 162) at Rs 290.
