Shipping Corp of India Share: Shares of Shipping Corp of India (SCI) are in constant focus. The company’s shares rose 8.8 percent today, Wednesday, June 12. Share prices reached intraday high of Rs 267.70 today. There is a big reason behind this rise in shares. In fact, the news is that investors’ sentiments improved due to the expectation that the company is getting closer to disinvestment. Let us tell you that the government has 63.75% stake in Shipping Corp of India.
what is the report
The strategic sale of Shipping Corp is likely to finally begin without any delay, Moneycontrol reported quoting a senior government official. This is because approval has been received from Maharashtra on stamp duty waiver. Stamp duty waiver was around Rs 300 crore. According to the official, the disinvestment was also delayed due to the general elections, which are over now. Now the government can focus on its disinvestment.
company business
Dismantling and subsequent listing of SCI’s non-core assets has paved the way for inviting financial bids for the strategic sale of Shipping Corp. In the next phase, the government will invite financial bids for the strategic sale, which is expected to fetch around Rs 3,000 crore. Non-core assets of SCI, which come under the Ministry of Ports, Shipping and Waterways. In March this year, Shipping Corporation of India Land and Assets was listed separately on the exchanges. SCI has a fleet of 70 ships and is the largest Indian shipping company in India.
