Shares of Great Eastern Shipping (GE Shipping) rose around 7% in Friday’s trade, tracking market expectations of higher tanker rates due to escalating tensions in the Middle East. As of 11:24 AM, the shares were trading 6.19% higher at Rs 1,035.40.
Roughly half of GE Shipping’s fleet comprises crude and product tankers. Any prolonged disruption in the region—particularly involving Iran, which contributes about 2 million barrels per day to global oil supply—may lead to route changes and higher freight rates.
The stock currently trades at a discount of nearly 35% to its net asset value. It remains free cash flow positive and has a strong balance sheet, with around ₹2,000 crore in annual cash generation. As of the latest available data, cash and equivalents account for approximately 40% of the company’s ₹14,000 crore market capitalisation.
Great Eastern Shipping shares opened at ₹956.00 and touched a high of ₹1,049.00 during the session. The stock also recorded a low of ₹941.40. It is currently trading between its 52-week high of ₹1,543.70 and 52-week low of ₹797.50.
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