Shreyas Shipping gains on signing memorandum for sale of container vessel

MUMBAI : Shreyas Shipping & Logistics rose 1.26% to Rs 84.40 after the company signed a memorandum of agreement (MoA) for sale of one of its container vessel, SSL Balaji.

The scrip extended gains for third consecutive day. The stock has added 7.38% in three sessions, from its recent closing low of Rs 78.60 recorded on 12 March 2021.

On a year-to-date (YTD) basis, the stock has gained 32.81% while the benchmark Sensex has advanced 5.27% during the same period.

Shreyas Shipping and Logistics is a pioneer and market leader in domestic coastal container shipping covering all main ports and container terminals on the Indian coast. SSL, which has a fleet of 13 vessels with a capacity of over 23,000 TEUs, also offers services to the Middle East and Bangladesh.

The company’s consolidated jumped 47.45% to Rs 12.74 crore on a 6.03% rise in net sales to Rs 143.86 crore in Q3 FY21 over Q3 FY20.