SCI clarifies on divestment front

Shipping Corporation of India (SCI) has clarified its stance on the divestment and stock split following media reports regarding them.

As per reports, Shipping minister T R Baalu yesterday announced that the government would divest 15% stake in SCI and go in for stock split.

"We would like to state that the company has not received any such intimation from the ministry of shipping on 2-for-1 stock split and sale of 15 per cent stake," SCI said in a release to the NSE.

The clarification was made by the company in response to NSE's query in this regard.