InvestorQ : What is the story behind the sharp rally in the price of GE Shipping?
Dhwani Mehta made post

What is the story behind the sharp rally in the price of GE Shipping?

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Dilmini Mercia answered.
1 month ago
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Great Eastern Shipping (GE Shipping) touched a 14-year high on the BSE at Rs545 per share and the stock has now surged nearly 83% since the start of the year 2022. The reasons were fundamental and macro related. In Q1FY23, GE Shipping reported 142% growth in net profit at Rs457 crore, with the sales revenues growing by 78% yoy. As there is more fresh investment coming into oil and gas, GE shipping is gaining from the boost to demand for rigs and vessels. The shipping benchmark Baltic Dry Index is up 60% in 2022. It is all due the war.

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