Shipping Corporation of India (SCI) is currently trading at Rs. 56.70, up by 0.60 points or 1.07% from its previous closing of Rs. 56.10 on the BSE.
The scrip opened at Rs. 57.10 and has touched a high and low of Rs. 57.60 and Rs. 56.25 respectively. So far 76364 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 73.25 on 11-Jun-2014 and a 52 week low of Rs. 35.00 on 04-Mar-2014.
Last one week high and low of the scrip stood at Rs. 60.70 and Rs. 55.50 respectively. The current market cap of the company is Rs. 2652.73 crore.
The promoters holding in the company stood at 63.75% while Institutions and Non-Institutions held 20.46% and 15.79% respectively.
Shipping Corporation of India (SCI) is planning to buy one or two LPG ships, besides placing orders for some smaller offshore vessels, this year at a cost of Rs 800 crore, which will be its first vessel acquisition in over three years. The acquisition will be funded through equity of Rs 300 crore and debt of Rs 500 crore.
India’s largest ship owner had to shelve its buying plans all these years due to its financial losses, tepid freight market conditions and high asset prices. Its losses for the last three fiscals were Rs 275 crore, Rs 114 crore and Rs 428 crore, respectively.
SCI is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organizations.