ManagementSCI gains on plans of new buy
Shipping Corporation of India (SCI) has gained in early trades on plans of purchasing new container ships.
- Sensex opens flat on global cues - FIIs net buyers Rs 695cr in F&O on Tuesday - US markets end flat - Govt defers ground handling policy by 1 yr - Asian stocks rise for second day, led by commodities, retailers - Emerging-market inflows triple on export recovery
The stock has gained 2.8% to Rs 149 after touching a high of Rs 250. The stock is now just 4% away from its 52 week high of Rs 155. It has, however, surged over 100% from its 52 week low of Rs 70. Over 56,510 shares have been traded on the counter so far.
SCI has planned to buy three container ships for $225 million. At present, Shipping Corporation has a total fleet strength of 76, which includes 5 container vessels.