Meanwhile, the S&P BSE Sensex was up 135.12 points or 0.69% at 19,654.61.
On BSE, 61,000 shares changed hands in the counter as against average daily volume of 51,510 shares in the past one quarter.
The stock hit a high of Rs 37.90 and a low of Rs 36 so far during the day. The stock had hit a 52-week low of Rs of Rs 34.75 in intraday trade on Thursday, 6 June 2013. The stock had hit a 52-week high of Rs 61.65 on 12 July 2012.
The stock underperformed the market over the past one month till 6 June 2013, sliding 16.47% compared with the Sensex's 0.78% fall. The scrip had also underperformed the market in past one quarter, declining 24.84% as against Sensex's 1.39% rise.
The small-cap shipping firm has equity capital of Rs 465.80 crore. Face value per share is Rs 10.
Under the memorandum of understanding (MoU) signed between SCI and GAIL (India), both the companies will cooperate for transportation of 5.8 million tonnes per annum (MTPA) of LNG being sourced by GAIL from Sabine Pass and Cove Point terminals in USA. The cooperation would include SCI assisting GAIL in the charter hiring of LNG ships and GAIL assigning step-in right to SCI in the ownership of LNG ships.
GAIL has signed a LNG sales and purchase Agreement with Cheniere Energy Partners, LP (Cheniere) to procure 3.5 MTPA of LNG from the latter's Sabine Pass Terminal in Louisiana, USA for a period of 20 years. GAIL has also signed a terminal service agreement with Dominion through GAIL Global (USA) LNG LLC for booking 2.3 MTPA liquefaction capacity in the Cove Point LNG liquefaction terminal project located at Lusby in the state of Maryland. As the agreements are on FOB basis, GAIL is required to make its own arrangements for transportation of LNG from these terminals. The transportation of LNG is expected to begin from mid-2017.
SCI's net loss narrowed to Rs 281.44 crore in Q4 March 2013, from a net loss of Rs 355.85 crore in Q4 March 2012. Net sales declined 5.6% at Rs 960.69 crore in Q4 March 2013 over Q4 March 2012.
SCI is present in most segments of shipping, including the container, bulk carrier, tanker and the offshore segment. The Government of India (GoI) holds 63.75% stake in SCI (as per the shareholding pattern as on 31 March 2013).
Shares of GAIL (India) were trading 0.45% up at Rs 311.90. The stock was volatile. The stock rose as much as 0.67% at the day's high of Rs 312.60 so far during the day. The stock lost as much as 0.16% at the day's low of Rs 310 so far during the day.
GAIL (India)'s net profit surged 27.9% to Rs 618.18 crore on 18.7% growth in net sales to Rs 12408.58 crore in Q4 March 2013 over Q4 March 2012.
GAIL (India) is India's flagship gas transmission and marketing company with global footprints. The Government of India (GoI) holds 57.34% stake in GAIL (India) (as per the shareholding pattern as on 31 March 2013).
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