Shipping Corporation hits 52-week high; up 17% in 2 days on demerger update

The Final hearing before the Ministry of Corporate Affairs in New Delhi for obtaining sanction on the Scheme of Arrangement for demerger is fixed on Thursday, December 29, 2022

Shares of Shipping Corporation of India (SCI) hit a 52-week high of Rs 151.30 as they soared 8 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes. In the past two trading days, the stock of the state-owned shipping company has rallied 17 per cent after it provided an update on its demerger plan. It surpassed its previous high of Rs 147.20, touched on January 4, 2022.

At 11:04 AM, SCI was trading 3 per cent higher at Rs 144.90, as compared to 1 per cent decline in the S&P BSE Sensex. The average trading volumes