Shipping Corp sails North on divestment hopes

Dalal Street Spikes

 More than 6.97 lakh shares of the company were traded on the BSE.

 Market sources said, the counter moved up on disinvestment hopes.

 The Cabinet Committee of Disinvestment (CCDs) is meeting on October 3, 2003 to discuss the disinvestment in PSU companies, especially SCI and EIL.

 For the quarter ended June 30, 2003, SCI reported a net profit of Rs 150.25 crore, compared to net loss of Rs 5.93 crore during the corresponding period of the previous year. Total income increased to Rs 784.91 crore, from Rs 530.48 crore in JQ of 2002.