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Broker call▲ Bullish for The Great Eastern Shipping
Great Eastern Shipping rises 3% as Nomura retains Buy; projects up to 28%. Here's why
The brief
- Great Eastern Shipping shares rose nearly 3%
- Nomura retained Buy with a Rs 1,965 target, implying 28% upside
- Nomura’s positive view may support sentiment for Great Eastern Shipping investors
- Price Action: Marine Electricals shares gain 3% on order win, GE Shipping up 4% after Nomura initiates 'Buy'
- GE Shipping Company Share Price Surges Nearly 4% After Nomura Initiates Coverage With 'Buy'
GE Shipping valuation and fleet expansion
GE Shipping shares gained 11.8% over the past month and 34.5% year-to-date as Nomura initiated coverage with a Buy rating, citing the company’s Rs 8,000 crore cash pile. Nomura later retained Buy and set a Rs 1,965 target, implying 28% upside.
Monday, 28 September
- Great Eastern Shipping rises 3% as Nomura retains Buy; projects up to 28%. Here's why