Shares of Great Eastern Shipping surged 9 per cent to Rs 299.85 on the BSE intra-day trade after the company announced its plan for share buyback. The company said its board of directors are scheduled to meet on Monday, December 27, 2021, to consider and approve a proposal for buy-back of equity shares of the company.

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The shipping company’s stock has corrected 42 per cent from its 52-week high level of Rs 477 touched on June 16, 2021, till Wednesday. It had hit a 52-week low of Rs 229 on January 29, 2021.