Shares Great Eastern Shipping Company Ltd. rose over 3% on Friday with stock trading at Rs 1,345.10 apiece after the company board approved a share buyback worth up to Rs 900 crore through the open market route, excluding promoters and promoter group shareholders.
The Great Eastern Shipping Company's board has approved a share buyback worth up to Rs 900 crore through the open market route, excluding promoters and promoter group shareholders. The buyback will be conducted via stock exchanges at a maximum price of Rs 1,530 per share.
At the maximum buyback size and price, the company can repurchase up to 58.82 lakh equity shares, representing 4.12% of its paid-up equity capital as of August 27, 2026. If shares are bought at lower prices, the number of shares repurchased could be higher, subject to the overall Rs 900 crore limit and the regulatory cap of 25% of paid-up equity capital.
The buyback size represents 7.19% and 6.34% of the company's standalone and consolidated paid-up capital and free reserves, respectively, as of March 31, 2026. The company has committed to spending at least Rs 675 crore (75% of the maximum size), implying a minimum repurchase of about 44.12 lakh shares. A detailed public announcement outlining the buyback process and timelines will be issued later in compliance with SEBI regulations.
Great Eastern Shipping Company Ltd.Share Price Today
Great Eastern Shipping Company Ltd.Share Price Today
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The scrip rose as much as 3.48% to Rs 1,363 apiece on Friday at 9:30 am This compares to a 0.28% rise in the NSE Nifty 50 Index.
It has risen 43.96% in the last 12 months and 19.22% year-to-date. Total traded volume so far in the day stood at 0.98 times its 30-day average. The relative strength index was at 51.75.
Out of two analysts tracking the company, both maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target of Rs 1866.50 implies an upside of 38.6%
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