Essar Shipping Long Term Buy Call

Essar Shipping Long Term Buy CallTechnical analyst SP Tulsian has maintained 'buy' rating on Essar Shipping Ports and Logistics Limited stock for long term.

According to analyst, the stock can be purchased for 50% gains in a period of six months.

The stock of the company, on March 3, closed at Rs 81.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 134.10 and a low of Rs 67.70 on BSE.

Current EPS & P/E ratio stood at 2.42 and 35.51 respectively.

Antwerp Port Authority or APA, which administers Europe's second-largest port in Belgium, has selected the country's Essar Group as a strategic associate to discover commercial and investment chances in the fast developing Indian ports division.

The Gujarat High Court has sanctioned a plan of arrangement of de-merger of company's logistics, shipping and oilfields services businesses.

The de-merger will generate two separate divisions including, Essar Ports Ltd (existing ESPLL) and Essar Shipping Ltd.

Both the firms would be listed on both the bourses including NSE and BSE.

Mr. Rajiv Agarwal, CEO and managing director, ESPLL stated, "Both companies have attained a critical mass and need focused management, with substantial growth plans lined up. This demerger will help them follow their independent growth trajectories."