SCI slumps as net loss widens in Q2

Shipping Corporation of India lost 5.93% to Rs 102.35 at 9:24 IST on BSE after the company reported a net loss of Rs 76.18 crore in Q2 September 2017, higher than net loss of Rs 17.77 crore in Q2 September 2016.

The result was announced after market hours on Friday, 3 November 2017.

Meanwhile, the S&P BSE Sensex was up 5.33 points or 0.02% at 33,690.89. The S&P BSE Mid-Cap index advanced 61.03 points or 0.37% at 16,774.14, outperforming the Sensex.

On the BSE, 1.75 lakh shares were traded on the counter so far as against average daily volumes of 3.27 lakh shares in the past one quarter. The stock had hit a high of Rs 104.90 and a low of Rs 101.50 so far during the day. The stock had hit a 52-week high of Rs 113.50 on 2 November 2017 and a 52-week low of Rs 55.75 on 22 November 2016.

The stock had outperformed the market over the past one month till 3 November 2017, advancing 23.22% compared with the Sensex's 6.95% rise. The stock had also outperformed the market over the past one quarter, gaining 26.73% as against the Sensex's 4.49% rise. The scrip had also outperformed the market over the past one year, advancing 62.27% as against the Sensex's 22.8% rise.

The mid-cap company has equity capital of Rs 465.80 crore. Face value per share is Rs 10.

Shipping Corporation of India's (SCI) net sales rose 6.6% to Rs 808.22 crore in Q2 September 2017 over Q2 September 2016.

Shipping Corporation of India in the largest Indian shipping company. The SCI also has substantial interests in various segments of the shipping trade. The government of India holds 63.75% stake in the company as per the shareholding pattern as on 30 September 2017.

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