Shreyas Shipping and Logistics is doing well in Dalal Street today. Know why

Shares of Shreyas Shipping and Logistics rose more than 4 percent after the transporter said it had acquired two container ships to boost its fleet strength to 8 vessels.

The new ships will be plying in local as well as international waters, Shreyas said in a statement to the Bombay Stock Exchange.

Shreyas rose 28 rupees, or 4.2 percent, to 698 rupees on the National Stock Exchange where 45,300 shares changed hands compared with a 5-day average of 16,500 shares.

Shreyas will be adding two more container ships within a year, the statement added.

Shreyas has surged 19 times in the past one year, pushing its market capitalization to 1,500 crore rupees.

(Image credit: Indiatimes)