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Shares of state-owned Shipping Corporation of India (SCI) surged 12 per cent to Rs 128.9 per share in Thursday's intra-day trade on the BSE. The shares closed 9.7 per cent higher at Rs 126.2 as the government approved the demerger of the core and non-core assets of the company.
In an exchange filing, SCI said the Ministry of Corporate Affairs (MCA) has sanctioned the Scheme of Arrangement for Demerger of Non-Core Assets of Shipping Corporation of India Limited into Shipping Corporation of India Land and Assets Limited. CHECK DETAILS HERE
SCI had been identified for strategic disinvestment
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