SCI gains on plan to review useful life of its vessels

19 May 2015

Shipping Corporation of India is currently trading at Rs. 53.15, up by 0.40 points or 0.76% from its previous closing of Rs. 52.75 on the BSE.

The scrip opened at Rs. 53.35 and has touched a high and low of Rs. 55.80 and Rs. 52.05 respectively. So far 3,76,000 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. 43.85 on 27-Mar-2015.

Last one week high and low of the scrip stood at Rs. 55.80 and Rs. 44.80 respectively. The current market cap of the company is Rs. 2,471.00 crore.

The promoters holding in the company stood at 63.75% while Institutions and Non-Institutions held 20.62% and 15.63% respectively.

Shipping Corporation of India (SCI) is planning to review the useful life of its vessels this week. In this regard, a meeting of the board of directors of the company scheduled to be held on May 21.

The company’s overall fleet consists of 69 ships as on April 1, 2015. SCI in March has taken physical delivery of large crude carrier Desh Vibhor, of 3,16,634 DWT (deadweight) capacity.

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.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323