read to know why citi removed coverage from ge shipping

We are discontinuing coverage of Great Eastern Shipping due to a lack of
investor interest in the stock.

The firm's final recommendation of the security is Sell/Medium Risk (3M) and
our target price is Rs306.

We revise our target price to Rs306 from Rs248 (adjusted for the reorganization
of the share capital, revision in estimates, and also factoring the emerging
offshore business in Great Ship India). Our target price of Rs306 is based on a
sum of parts methodology - we value the shipping division based on 0.7x NAV
(value of Rs253/share) and the offshore division at Rs53 based on P/Book of 2x.

The above rating is our final rating on the stock and we will not be providing any
further updates to our research or ratings on this stock. Because facts and
circumstances may change, the information and analysis contained in this or
prior research may no longer be applicable or accurate in the future.
Accordingly, you should not rely on this or previous research with respect to this
company going forward.