As per view of technical analyst Hitendra Vasudeo of Stockmechanics.com, Varun Shipping can be purchased for above Rs 87 with strict stop loss of Rs.70. For achieving a target of Rs.103-136, investors can buy stock at current prices to be sold in short term.

At the National Stock Exchange, the stock has touched 52-week high of Rs.87 and a low of 49.

The stock is currently trading at P/E of Rs.5.22 with an earning per share of Rs.16.02.

Varun shipping company is a private sector company in India, which presently operates a fleet of 20 vessels for seaborne transportation of bulk cargoes mainly in the hydrocarbon sector including LPG, crude oil and petroleum products.

The company also offers a comprehensive shipping solution for the entire hydrocarbon product chain.