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SCI up 2.5% on venture with ONGC

DALAL STREET SPIKES

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Our Markets Bureau Mumbai
Last Updated : Feb 06 2013 | 6:31 AM IST
Shipping Corporation of India (SCI) reached an intra-day high of Rs 159.4 and jumped 2.5 per cent to Rs 155.85, as the company has set up a new shipping venture with ONGC.
 
On Wednesday, 8.21 lakh shares were traded against an average of 80,000 shares. SCI and ONGC will hold 24.5 per cent each in a new company, named Offshore Marine Services.
 
The new company will serve ONGC's offshore marine vessel operations and other Indian oil and gas companies.
 
The company will sign a charter agreement with ONGC to use its marine vessels and also acquire new vessels to serve clients other than ONGC. An arm of Singapore's PSA International (Pte) will hold 21 per cent stake in Offshore Marine Services.

 
 

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First Published: Mar 09 2006 | 12:00 AM IST

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