SCI surges on the buzz of hiking Europe route freight rate by $200 per container

16 Jul 2013

Shipping Corporation of India (SCI) is currently trading at Rs. 34.05, up by 0.20 points or 0.59% from its previous closing of Rs. 33.85 on the BSE.

The scrip opened at Rs. 33.75 and has touched a high and low of Rs. 35.80 and Rs. 33.40 respectively. So far 134706 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 60.95 on 08-Jan-2013 and a 52 week low of Rs. 32.90 on 09-Jul-2013.

Last one week high and low of the scrip stood at Rs. 35.80 and Rs. 32.90 respectively. The current market cap of the company is Rs. 1581.39 crore.

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

State run Shipping Corporation of India (SCI) is reportedly planning to hike Europe route freight rate by $200 per container. The company, previously in January this year, in order to meet increasing operational costs and maintain high level of reliability and proficiency to customers, had hiked rates on Indian Subcontinent to Europe (ISE) service with effect from February 1, 2013.

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