Great Eastern Shipping Company Ltd: A Top Performer in the Stock Market
Great Eastern Shipping Company Ltd, a midcap shipping company, has been performing exceptionally well in the stock market, with a 5.64% increase on July 9th. Its inclusion in the Hidden Turnaround list on MarketsMojo since May 10th has contributed to this success, with the stock only 2.72% away from its 52-week high. The stock has outperformed its sector and the Sensex, making it a promising investment opportunity in the shipping industry.
Great Eastern Shipping Company Ltd, a midcap shipping company, has been making waves in the stock market with its recent performance. On July 9th, the company's stock gained 5.64%, making it a top performer in the market. This positive trend has caught the attention of MarketsMOJO, who have given the stock a 'Buy' call.
One of the reasons for this surge in stock price is the company's inclusion in the Hidden Turnaround list on MarketsMOJO since May 10th. This list features companies that have shown potential for a turnaround in their performance. This has been reflected in the stock's performance, with it being only 2.72% away from its 52-week high of Rs 1449.9.
In today's trading, Great Eastern Shipping Company opened with a gain of 3.55% and touched an intraday high of Rs 1425.4, a 6.18% increase. This outperformance is also reflected in the stock's performance compared to its sector, with a 3.83% outperformance.
The stock has been on a consecutive gain streak for the last 5 days, with a 16.1% increase in returns during this period. This is further supported by the fact that the stock is trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
In the shipping sector, Great Eastern Shipping Company has gained by 2.13%, showcasing its strong performance in the industry. In comparison to the Sensex, the stock has outperformed with a 1-day performance of 5.70% and a 1-month performance of 22.61%, while the Sensex has only shown a 0.32% and 4.59% increase, respectively.
With its strong performance and positive outlook, Great Eastern Shipping Company Ltd is definitely a stock to watch out for in the shipping industry. Investors can take advantage of this opportunity and consider adding this midcap company to their portfolio.
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