Page 5 - Shipping Corporation Of India

Shipping ministry not opposed to strategic divestment of SCI: Official

The Shipping Ministry in 2017 had opposed the proposal of the strategic divestment of SCI

Clearing the deck: Govt removing legislative barriers to privatisation

The core group of secretaries on disinvestment has recently approved the disinvestment of five public sector undertakings PSUs

BPCL, SCI, Concor rally up to 14% as govt clears divestment proposal

In the past month, SCI (zoomed 77 per cent), BPCL (up 44 per cent) and Concor (up 27 per cent) have outperformed the benchmark S&P BSE Sensex, which gained 4 per cent during the same period.

Legislative hitch to SCI divestment

Any sale of government equity in Shipping Corporation of India (SCI) can happen only after a nod from Parliament, feels the ministry of shipping."If something is done by an Act of Parliament, it should be changed as per an Act of Parliament," a government official told Business Standard. SCI was created through legislation, through nationalisation and amalgamation of private companies. "We are, therefore, examining the legal aspect and only then would go ahead with the proposal (to divest in SCI)," said the official.Thisis similar to the case of the previous NDA government's proposal to privatise Hindustan Petroleum Corporation and Bharat Petroleum Corporation, in 2003. The Supreme Court had then ruled out privatisation in these companies without prior Parliament approval -- these entities were created by Acts of Parliament.Government think tank NITI Aayog has proposed strategic sale of about 26 per cent stake in SCI, which could fetch Rs 960 crore to the exchequer under current ...

Shipping Corporation slumps 7% post disappointing Q2 earnings

The stock was still trading nearly 8% higher to its 52-week low of Rs 54.50

SCI to revive joint venture with Iran shipping firm

The JV, which currently holds three bulk carriers and one tanker vessel, could charter a container vessel soon

Shipping Corporation dips on disappointing Q1 results

The stock dipped 9% to Rs 67 on BSE after the company reported a sharp 73% YoY decline profit at Rs 56 crore for Q1FY17,

Shipping Corp seafarers agitate over pay

The company is facing agitation from about 200 sailors who have gone on hunger strike since Saturday, after SCI failed to revise wages