1. Varun Shipping is a mid sized company which is in seaborne transportation business of bulk cargos and it deals mainly in LPG (leader with 81% share in the market), crude oil and related petroleum by products.
2. I am of the opinion company will do well as LPG and crude will always be in demand which is contributing close to 97.29% and 12.85 percent respectively in its business.
3. Company has already earned a profit of Rs 93.6 crore and has also paid a dividend of 45%. This is a defensive stock and it is on a good wicket as it has earned profit in past 3 quarters to the tune of Rs 258 crore on a turnover of Rs 625 crore.
4. Stock is inexpensive as it is trading between 60-100 range and one can buy the same around 70 levels and should regularly book profit as this level for the stock is generally available whenever market breaks.
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2. I am of the opinion company will do well as LPG and crude will always be in demand which is contributing close to 97.29% and 12.85 percent respectively in its business.
3. Company has already earned a profit of Rs 93.6 crore and has also paid a dividend of 45%. This is a defensive stock and it is on a good wicket as it has earned profit in past 3 quarters to the tune of Rs 258 crore on a turnover of Rs 625 crore.
4. Stock is inexpensive as it is trading between 60-100 range and one can buy the same around 70 levels and should regularly book profit as this level for the stock is generally available whenever market breaks.
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