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Seacoast Shipping Services Limited’s shares were up by 9.86 per cent after the company confirmed the acquisition of the vessel MV Bharadwaj, as previously announced. The ship, currently situated at Qatar Port, is undergoing inspection and necessary procedures for a flag change, with completion expected by January 15, 2024. The company reported that the acquisition is valued at ₹51 crore and the acquisition enhances its operational capabilities.
However, considering the substantial expenditure, the company decided to defer the buyback of shares temporarily.
Shares were up by 9.86 per cent to ₹3.90 at 1.26 pm on the BSE.
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