Great Eastern Shipping Company announced that the company's wholly owned step down subsidiary Greatship Global Offshore Services Pte has formed GGOS Labuan as its wholly owned subsidiary.

The stock had underperformed the market over the past one month till Jun. 26, 2014, falling 9.40% compared with the Sensex`s 1.40% rise. It underperformed the market in past one quarter, declining 7.81% as against 13.43% rise in the Sensex.

Shares of the company declined Rs 4.60, or 1.25%, to settle at Rs 363.05. The total volume of shares traded was 21,902 at the BSE (Friday).