SCI - Now Seen In Accumulation From This Month

By Research Desk
about 3 years ago

Shipping Corporation seen coming in buying mode from 29th Sepember, 2021 by HINs, as seen from SHP as at 30-9-21 and daily trading matrix from 29th september till this date. Average daily cash volume, which used to be about 8-10 lakh shares for last 2 weeks prior to 29-9-21, rose to cash volume of 24 lakh shares on 29-9 and to 54 lakh shares on 30-9-21.

During quarter ended 30-9-21, there is no significant change in holding of  different categories of investors, except reduction of 40 lakh shares held by retail (from 6.47 cr shares as at 30-6-21 to 6.07 cr as at 30-9-21)  and increase in holding of clearing members by 30 lakh shares, from 38 lakh shares held as at 30-6-21, to 68 lakh shares as at 30-9-21. This means, retail were selling and HNIs were buying, while 30 lakh shares came to Broker Account for completing Securities Pay In.

SHP as at 30-9-21, has MF holding just 1 lakh shares, while FPIs were holding 45 lakh shares. Even HNIs were seen holding about 5 cr shares only. When a stock comes in news, even retail selling gets  curtailed, which will be seen here as well, as 13% stake, being 6 cr shares, held by them will not see selling of more than 2 cr shares by them, in the next 3-6 months.

Promoter being GoI is holding 64% stake and 6 Insurance companies holding over 9% in the company, thus already  having very low float.

Present M Cap of Rs. 6,600 cr is also seen too low, while MF & FPIs, will surely be keen to acquire atleast 10% stake, maybe at about Rs. 1,000 cr, as against, present valuation of Rs. 660 cr.

This has all the probability of share to rise by 50% in this FY.

This is not a Buy or Sell recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.

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