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SCI rises after giving delivery of bulk carrier

Capital Market/ 11:40 , Jan 15, 2013

Shipping Corporation of India rose 0.97% to Rs 57.05 at 11:37 IST on BSE after the company said it has given physical delivery of its bulk carrier m.v. Lok Prem to its buyer.

Shipping Corporation of India made the announcement after market hours on Monday, 14 January 2013.

Meanwhile, the BSE Sensex was up 36.31 points or 0.18% to 19,942.72

On BSE, 31,698 shares were traded in the counter as against average daily volume of 1.50 lakh shares in the past one quarter.

The stock hit a high of Rs 57.45 and a low of Rs 56.50 so far during the day. The stock had hit a 52-week high of Rs 81.70 on 17 February 2012. The stock had hit a 52-week low of Rs 48.70 on 5 September 2012.

The stock outperformed the market over the past one month till 14 January 2013, rising 6% compared with the Sensex's 3.05% rise. The scrip had, however, underperformed the market in past one quarter, falling 1.99% as against Sensex's 6.59% rise.

The small-cap shipping firm has an equity capital of Rs 465.80 crore. Face value per share is Rs 10.

Shipping Corporation of India reported net profit of Rs 297.26 crore in Q2 September 2012 compared with net loss of Rs 140.60 crore in Q2 September 2011. Net sales rose 13.1% to Rs 1025.91 crore in Q2 September 2012 over Q2 September 2011.

Shipping Corporation of India (SCI) is present in most segments of shipping, including the container, bulk carrier, tanker and the offshore segment. The Government of India (GoI) holds 63.75% stake in the company as at 30 September 2012.


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