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Shipping Corporation declines on reporting 73% fall in Q1 net profit

19 Aug 2016

Shipping Corporation of India is currently trading at Rs 70.20, down by 4.05 points or 5.45% from its previous closing of Rs 74.25 on the BSE.

The scrip opened at Rs. 71.00 and has touched a high and low of Rs. 71.00 and Rs. 67.45 respectively. So far 209749 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.90 on 16-Dec-2015 and a 52 week low of Rs. 54.50 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 77.50 and Rs. 67.45respectively. The current market cap of the company is Rs. 3269.91 crore.

The promoters holding in the company stood at 63.75%, while Institutions and Non-Institutions held 22.68% and 13.57% respectively.

Shipping Corporation of India (SCI) has registered 72.56% fall in its net profit at Rs 55.91 crore for the quarter ended June 30, 2016 as compared to Rs 203.78 crore for the same quarter in the previous year. Total income of the company decreased by 21.67% at Rs 875.94 crore for quarter under review as compared to Rs 1118.22 crore for the quarter ended June 30, 2015.

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