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Shipping stocks gain; Shipping Corporation hits 52-week high

GE Shipping, Mercator, Chowgule Steamship, Essar Shipping and Seamac were up 3% to 5%.

SI Reporter  |  Mumbai 

Shipping industry
Shipping industry

Shares of companies were in focus with Corporation of India (SCI) rallying 16% to Rs 92, also its 52-week high on  the BSE in intra-day trade, after NITI Aayog  proposes 26% strategic sale in the state-owned company.

Great Eastern (GE Shipping), Mercator, Chowgule Steamship, Essar and Seamac were up in the range of 3% to 5%, as compared to 0.09% rise in the S&P BSE Sensex at 10:02 am.

According to sources, the core group of secretaries on disinvestment, headed by the cabinet secretary, discussed the proposal and has mandated the Ministry to find out legal hassles, if any, in the process, the PTI report suggests.

The government, at present, holds 63.75% stake in Navratna PSU Corporation of India. After the sale of 26%, the government holding in the company will come down to 37.75%.

First Published: Thu, June 15 2017. 10:09 IST
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