Buyback alert! GE Shipping shares rise 3% as firm set to repurchase shares at 16% premium
Great Eastern Shipping experienced a surge in its stock prices following the announcement of its inaugural share buyback scheme.
The company has proposed to repurchase equity shares worth up to Rs 900 crore via the open market at a set maximum price.
Additionally, GE Shipping reported a net profit more than doubling for the June quarter, attributed to strong growth in its shipping sector and enhanced operating margins.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on economictimes.indiatimes.com — the content belongs to The Economic Times.
