Stock Report

Seacoast Shipping Services Ltd to acquire Starchart Shipping and Marine Services Ltd

Posted On : 2021-12-15 17:59:43( TIMEZONE : IST )

Seacoast Shipping Services Ltd to acquire Starchart Shipping and Marine Services Ltd

Seacoast Shipping Services Limited (SSSL) has been engaged into business of Shipping & Logistics since so many years. SSSL has existing in place a strong network of Ship-owners provides us with access to large fleet of vessels, combined with the expertise of our experienced teams, enable us to provide customised transportation solutions for our customers.

The Company is focusing on providing the Value added and better operational efficiency to its Customers with the maintaining Competitive advantages in their respective markets.

The company has an excellent track and performance record with all major first class reputed ship owners. Our extensive experience and relationships with Industrial players and end users with special emphasis in the Asia Pacific market have been capitalised setting up the company as a major dry bulk shipping operator.

For the expansion of the company's services and network of Business in the area of logistic and shipping business the Management wish to more invest in same Business line. The Management has confidence that the company can expand its network and services in logistic and Shipping business because of that they have decide to acquire, invest and takeover the existing business which is engaged with the mentioned services.

In view of the above, the company decided to take over M/s Starchart Shipping and Marine Services Private Limited as a wholly owned Subsidiary company engaged into logistic and Shipping Services business and management hope to achieve the further turnover of Rs. 500 Cr to 600 Cr. from the Starchart Shipping and Marine Services Private Limited in the Current Financial Year.

Shares of Seacoast Shipping Services Ltd was last trading in BSE at Rs. 193.35 as compared to the previous close of Rs. 181.60. The total number of shares traded during the day was 35474 in over 456 trades.

The stock hit an intraday high of Rs. 205.00 and intraday low of 180.20. The net turnover during the day was Rs. 6794323.00.

Source : Equity Bulls


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