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Shipping shares swings up

Wednesday, July 15, 2009 1:20 pm
By ShareGyan.com NewsDesk

Mercator Lines, Essar Shipping, Varun Shipping Company, Great Eastern Shipping, Shipping Corporation of India, Shreyas Shipping traded high.
Shipping stocks descended lately reflecting a fall in the BDI by more than 30% on 10th July from 4,291 on 3rd June.
Shipping Corporation of India fell 10.15% as opposed to the BSE’s 9.08% drop. It had rushed 57.83% as opposed to the BSE’s profit of 26.32%.
GE Shipping fell 7.95% as opposed to the BSE’s 9.08% drop. It also ascended 29.10% as opposed to the BSE’s profit of 26.32%.
Majority of the shipping firms had posted a fall in their Quarter 4 March profits. Net gain of GE Shipping Company fell 16.49% in Quarter 4 March over Quarter 4 March last year. Shipping Corporation of India’s net gain declined 19.3% in Quarter 4 March over Quarter 4 March last year.

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