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SCI trades higher on the bourses

12 Jun 2013

Shipping Corporation of India (SCI) is currently trading at Rs. 35.10, up by 0.25 points or 0.72% from its previous closing of Rs. 34.85 on the BSE.

The scrip opened at Rs. 34.55 and has touched a high and low of Rs. 35.35 and Rs. 34.50 respectively. So far 18201 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 61.65 on 12-Jul-2012 and a 52 week low of Rs. 34.10 on 11-Jun-2013.

Last one week high and low of the scrip stood at Rs. 37.90 and Rs. 34.10 respectively. The current market cap of the company is Rs. 1632.63 crore.

The promoters holding in the company stood at 63.75% while Institutions and Non-Institutions held 20.84% and 15.41% respectively.

Shipping Corporation of India (SCI), which signed Memorandum of Understandings (MoUs) with several state-run companies such as Coal India, ONGC, SAIL and Gail India, is unable to take advantage of the pacts as its financials continue to be under stress. Further, the company is yet to form joint ventures with Coal India and Oil and Natural Gas Corporation which could have offered the firm with assured cargo and revenues.

As per the joint venture agreement with SAIL, the company has not acquired vessels yet for operation. The company’s talks with National Thermal Power Corporation to transport cargo also did not yield results.

Related Shipping Corporation Of India Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323