In its latest research report, Nirmal Bang, an equity research firm, said that GE Shipping, which presently stuck in a band of 213-230, can give good returns within 4-5 trading sessions.

The report further stated that, if the counter is successful to breach 230, then it will create a huge breakout.

Nirmal Bang Research has advised investors to hold the stock to achieve a target price of Rs 248-265.

Furthermore, the firm has suggested a support level for the scrip at Rs 205 and resistance level at Rs 229.

Shares of the company, on Monday (May 04), closed at Rs 223.25 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 537.20 and a low of Rs 138.60 on BSE. Current EPS and P/E of the stock stood at 93.65 & 2.39 respectively.

GE Shipping delivered its 2007 built double hull medium range (MR) vessel 'Jag Payal' (37,159 dwt) to the buyers.

With the delivery of this product tanker, GE Shipping's presently has 39 vessels, which consists of 31 tankers including 12 crude carriers, 18 product carriers, 1 LPG carrier, and 8 drybulk carriers comprising 1 capesize, 1 panamax, 2 supramax, 3 handymax, 1 handysize with an medium age of 10.3 years.

GE Shipping has declared that a meeting of its board will be held on May 08, 2009, inter alia, to study the Audited Accounts for fiscal ended March 31, 2009 and announcement of Interim Dividend for the Financial Year 2008-09, if any.

On April 30, Greatship (India), a wholly owned arm of GE Shipping, has taken delivery of GREATSHIP ASMI, on 80T Anchor Handling Tug cum Supply Vessel.