The company made this announcement during the trading hours, today, 6 November 2007.

Meanwhile, BSE Sensex was up 96.18 points or 0.49% to 19,686.96, tracking recovery in Asian stocks after Monday (5 November 2007)'s fall caused by renewed fears over the impact of US credit crisis after US financial giant Citigroup said it may suffer up to $11 billion in write-downs for subprime losses.

On BSE 51551 shares were traded in the counter. The scrip had an average daily volume of 1.90 lakh shares in the past one quarter.

The stock had a 52-week high of Rs 509.90 on 30 October 2007 and 52-week low of Rs 185 on 19 March 2007.

The mid-cap scrip had outperformed the market over the past one month till 5 November 2007, gaining 30.93% compared to the Sensexs return of 10.23%. It had also outperformed the market in the past one quarter, rising 38.19% compared to Sensexs rise of 31.19%.

The companys current equity is Rs 152.27 crore. Face value per share is Rs 10.

The current price of Rs 480 discounts Q2 September 2007 annualized EPS of Rs 90.05 by a PE multiple of 5.33.

Greatship Global Offshore Services Pte Ltd, Singapore, a wholly owned by Greatship (India) has place the order. Greatship (India) is a wholly owned subsidiary of Great Eastern Shipping Company (GE Shipping). The two new vessels are expected to join the company's fleet in second half of financial year (FY) 2010.

Great Eastern Shipping Company's net profit rose 45.6% to Rs 342.79 crore on 15.2% growth in net sales to Rs 601.31 crore in Q2 September 2007 over Q2 September 2007.

The company has two main businesses, shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India).

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