Stocks of Shipping Corporation of India (SCI) hit a 52-week high of Rs 111 before closing at Rs 109.35, up 3.35 per cent. More than 6.46 lakh shares were traded on the BSE.
The counter moved up on hopes of dividend pay-outs. The SCI counter gained on hopes of disinvestment pay-outs following the trend that PSUs usually make hefty dividend pay-outs before being privatised.
The company has fixed October 10 as the record date for the proposed dividend. The market is anticipating that the company will issue a bumper interim dividend to enable the government to draw in a part of SCI