Shipping Corporation surges 16% in 2 days, hits 52-wk high on heavy volumes

Till 12:22 PM; as many as 28.16 million equity shares representing 6 per cent of total equity of Shipping Corporation (SCI) changed hands on the NSE (25.95 million) and BSE (2.21 million).

Shares price of Shipping Corporation of India (SCI) today

 

Shares of Shipping Corporation of India (SCI) hit a 52-week high of ₹267.70, surging 7 per cent on the BSE in Friday’s intra-day trade amid heavy volumes. In the past two trading days, the stock price of the state-owned shipping company has zoomed 16 per cent.

 

At 12:22 PM; SCI was quoting 6 per cent higher at ₹265.05 on the back of a five-fold jump in average traded volumes. In comparison, the BSE Sensex was down 0.14 per cent at 84,436. As many as 28.16 million equity shares representing 6 per cent of total equity of SCI changed hands on the NSE (25.95 million shares) and BSE (2.21 million shares).

 

What's driving SCI stock price today?

 

SCI in an exchange filing on Thursday after market hours informed that the company’s Consultant has prepared its Long Term Business Plan and the same has been consented by the Board of Directors of SCI. Specific projects/proposals forming part of the Business Plan shall be evaluated on a case-to-case basis as per SCI’s procedures, the company said.

 

SCI has been identified for strategic disinvestment by the Government of India. Transaction Advisors, Asset Valuers and Legal Advisors have been appointed by the Department of Investment and Public Asset Management (DIPAM) of the Ministry of Finance. DIPAM had floated a Preliminary Information Memorandum (PIM) and for inviting Expression of Interest on December 22, 2020.

 

Subsequently, Shipping Corporation of India Land and Assets Ltd (SCILAL) was incorporated in November 2021 for hiving off the Non-Core Assets of the company as a part of the Demerger under SCI's strategic disinvestment process. Further, Ministry of Corporate Affairs (MCA) has vide order dated 22.02.2023 approved the Scheme of Arrangement for Demerger between Shipping Corporation of India Limited and Shipping Corporation of India Land and Assets Limited (SCILAL). The operations of SCILAL are presently managed by SCI under service level agreement.

 

Outlook

 

On the policy front, the Government of India has undertaken several initiatives aimed at strengthening the domestic shipping and shipbuilding industry, including coastal and Inland Waterways, and enhancing its global competitiveness. Government of India in the Union Budget 2025-26 has inter alia announced Maritime Development Fund of ₹25,000 crore, Ship Building Financial Assistance Policy SBFAP 2.0, Tonnage Tax to Inland Vessels, Shipbuilding clusters, Shipbreaking credit notes, Basic custom duty exemption for another 10 years, to augment the infrastructure, skilling and technology for the entire ecosystem and to promote circular economy.

 

The Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047 aim at enhancing the overall performance and efficiency of the Indian Maritime Sector leveraging the National Logistics Policy (NLP) and the PM Gati Shakti National Master Plan (PMGS – NMP). Government has also announced the Cargo Promotion Scheme “Jalvahak Scheme” to facilitate and promote cargo transportation through inland waterways.

 

Meanwhile, Fitch Ratings had changed its 2025 outlook for the Global Shipping Sector to 'deteriorating' from 'neutral' due to expectations of weaker demand, particularly in container shipping and dry bulk. However, the easing of some tariffs and potential breakthroughs in multilateral trade dialogues could support a gradual recovery from 2026 onward, SCI said in its FY25 annual report.