SCI shares sail up to 6% after Union govt lists three shipping bills

Shares of Shipping Corporation of India (SCI) stock price of the company came into focus after the central government listed three new shipping bills for the winter session of the parliament

Shares of Shipping Corporation of India (SCI) rose up to 6 per cent to hit an intraday high of Rs 218.85 a piece on the BSE. The stock price of the company came into focus after the central government listed three new shipping bills for the winter session of the parliament which is scheduled to begin on Monday. 

 

The government has listed 18 Bills, including 13 pending ones, in its tentative agenda for the Lok Sabha and Rajya Sabha. Among the new Bills is the Coastal Shipping Bill, aimed at promoting coastal trade and encouraging Indian-flagged vessels owned and operated by Indian citizens, addressing both national security and commercial needs.  

 

 

The Indian Ports Bill seeks to enhance port conservation, security, and pollution control, aligning with international obligations and statutory requirements. Additionally, the proposed Merchant Shipping Bill focuses on ensuring compliance with maritime treaties, fostering Indian shipping development, and maintaining an efficient mercantile marine.

  Also Read: Govt lists 5 new, 13 pending Bills for winter session starting Monday 

Shipping Corporation of India is one of India’s largest shipping entities by Indian-flagged tonnage, specialising in the transportation of goods. Its owned fleet comprises bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, LPG carriers, and offshore supply vessels. Additionally, it manages a significant number of vessels on behalf of government departments and other organisations.  

 

The company operates across three segments: liner and passenger services, bulk carriers and tankers, and technical and offshore services.

 

SCI share price history

The company’s stock has outperformed the market year to date as it has risen 29 per cent, while slipping 60 per cent in the last one year. In comparison BSE Sensex has risen 7.5 per cent year to date and 17.6 per cent in a year. 

 

The company has a total market capitalisation of Rs 9,863.29 crore. Shipping Corporation of India shares are trading at a price to earnings multiple of 9.87 times and at an earning per share of Rs 21.49. 

 

At 11:41 AM; the shares of the company were trading 5.62 per cent higher at Rs 218 a piece. By comparison, the BSE Sensex was up 0.70 per cent at 77,693.43 level.