ICICI Bank executed a substantial block trade on the National Stock Exchange (NSE) worth ₹77.91 crores. The transaction represents significant institutional activity in the banking sector, highlighting continued investor interest in one of India's leading private banks.

Transaction Details

The block trade involved the exchange of approximately 547,070 shares at a price of ₹1,424.10 per share. Block trades are typically executed by institutional investors to facilitate large-volume transactions without causing significant price volatility in the regular market.

Market Significance

Block trades are pre-negotiated transactions between institutional investors that are executed outside the regular order book. These transactions allow for large volumes to be traded without impacting the stock's market price during regular trading hours. The substantial value of this transaction indicates significant institutional interest in ICICI Bank's shares.

Such block deals often reflect portfolio restructuring activities by institutional investors, including mutual funds, insurance companies, or foreign institutional investors. The execution of this trade suggests active participation from large investors in the banking sector, particularly in ICICI Bank, which operates as a large-cap stock in the Indian financial market.

Banking Sector Activity

The transaction value of ₹77.91 crores represents a notable institutional movement in the banking sector. ICICI Bank, being one of India's premier private sector banks, continues to attract institutional attention through such large-scale transactions. The block trade mechanism ensures that such significant volumes can be exchanged efficiently without disrupting normal market operations.

Great Eastern Shipping Company has received a rating reaffirmation from Brickwork Ratings India Pvt. Ltd. on January 05, 2026, for its Non-Convertible Debentures (NCDs). The rating agency has reaffirmed the BWR AAA rating with a stable outlook on NCDs worth ₹1,050.00 crore while withdrawing the rating on ₹700.00 crore worth of NCDs following their full redemption.

Rating Action Details

The rating action involves a significant reduction in the total rated amount from ₹1,750.00 crore to ₹1,050.00 crore. The detailed breakdown is presented below:

The BWR AAA rating indicates the highest degree of safety regarding timely servicing of financial obligations and carries the lowest credit risk.

Key Rating Strengths

The rating reaffirmation is supported by several fundamental strengths. Great Eastern Shipping, established in 1948, brings over 75 years of operating experience as one of India's largest private sector shipping companies. The company operates under experienced management led by the Sheth family, with a board comprising nine out of 13 non-executive independent directors.

The company maintains a diversified business model across shipping and offshore segments through its wholly owned subsidiary Greatship India Limited (GIL). As of December 31, 2025, the shipping fleet comprised 40 vessels with aggregate capacity of approximately 3.17 million DWT and average age of around 15.00 years. The offshore segment operates 23 assets including 4 jack-up rigs and 19 offshore support vessels.

Financial Performance Highlights

Great Eastern Shipping demonstrated strong financial performance in FY25 with consolidated operational revenue of ₹5,395.00 crore. The company maintained robust profitability metrics:

The subsidiary GIL reported significant growth with 61% increase in income from ₹1,090.00 crore in FY24 to ₹1,758.00 crore in FY25, while PAT improved from ₹163.00 crore to ₹318.00 crore.

Risk Factors and Outlook

Despite the strong rating, the company faces inherent industry risks. The shipping and offshore sectors are characterized by cyclical demand patterns, volatile charter rates, and sensitivity to global economic conditions. Approximately 75%-85% of the fleet operates in spot markets, creating earnings volatility during rate corrections.

Foreign exchange exposure remains a key risk factor, as significant portions of revenue, costs, and borrowings are denominated in US dollars. The company manages this through synthetic fixed-rate USD loans via currency swaps, which resulted in mark-to-market gains of ₹72.00 crore in FY25.

NCD Portfolio Structure

The remaining ₹1,050.00 crore NCD portfolio consists of instruments issued between 2016 and 2020 with varying maturity dates extending to 2028. The coupon rates range from 7.99% to 8.85% with annual payment schedules. Most NCDs are unsecured with bullet repayment structures, except for ₹450.00 crore worth of NCDs that are secured by charges on assets and fleets.

The stable outlook reflects Brickwork Ratings' expectation that Great Eastern Shipping will maintain its strong business risk profile, supported by diversified fleet operations, established market position, and robust financial metrics across market cycles.