Sandeep Wagle, Founder & CEO at powermywealth.com told CNBC-TV18, "Essar Shipping is likely to move in the Rs 24-36 band; I am talking of the next 12-15 months. So, near to Rs 33-34 if one books profits, one should make a decent profit. I don’t see Rs 24 being broken, so in case that is something very negative is likely to happen. So, the stoploss can be Rs 23 and that can be safe."
At 14:54 hrs Essar Shipping was quoting at Rs 29.25, up Rs 1.65, or 5.98 percent on the BSE.