Ports, shipping stocks surge as Cabinet approved a Major Port Trust Authorities Bill

Shipping Corporation Of India Ltd. | Shipping | Transportation & Logistics | BSE: 523598 | NSE: SCI

15 Dec 2016 Evaluate

Shares of ports, shipping and logistics companies were trading higher on the bourses after the Cabinet approved a Major Port Trust Authorities Bill to replace the Major Port Trusts Act of 1963.

Shipping Corporation of India is currently trading at Rs. 62.40, up by 1.55 points or 2.55% from its previous closing of Rs 60.85 on the BSE. The scrip opened at Rs 62.10 and has touched a high and low of Rs 63.65 and Rs 62.00 respectively. So far 346380 shares were traded on the counter.

Allcargo Logistics is currently trading at Rs 170.85, up by 6.15 points or 3.73% from its previous closing of Rs 164.70 on the BSE. The scrip opened at Rs 171.80 and has touched a high and low of Rs 176.80 and Rs 168.90 respectively. So far 36678 shares were traded on the counter.

Adani Ports and Special Economic Zone is currently trading at Rs 284.50, up by 0.80 points or 0.28% from its previous closing of Rs 283.70 on the BSE. The scrip opened at Rs 287.50 and has touched a high and low of Rs 291.90 and Rs 283.55 respectively. So far 384383 shares were traded on the counter.

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the proposal of Ministry of Shipping to replace the Major Port Trusts Act, 1963 by the Major Port Authorities Bill, 2016. This will empower the Major Ports to perform with greater efficiency on account of full autonomy in decision making and by modernizing the Institutional structure of Major Ports.

With a view to promote the expansion of port infrastructure and facilitate trade and commerce, the proposed bill aims at decentralizing decision making and to infuse professionalism in governance of ports. The new Major Ports Authority Bill, 2016 would help to impart faster and transparent decision making benefiting the stakeholders and better project execution capability. The Bill is aimed at reorienting the governance model in central Ports to landlord port model in line with the successful global practice. This will also help in bringing transparency in operations of Major Ports.

Shipping Corpn. Share Price

307.45 2.55 (0.84%)

04-May-2026 10:19 View Price Chart

Peers

Company Name	CMP
Shipping Corpn.	307.45
GE Shipping	1524.65
Dredging Corp	962.35
Seamec	1609.40
Shreeji Ship.Global	408.60
View more..

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