SCI hits a new high

about 2 months ago
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Shipping Corporation of India (SCI), which had closed on Friday at Rs.86.55, went on to hit a new high at Rs.92.70. Its 10% UC of the day stands at Rs.95.20.

The stock hit a new high on a PIT news report that the Govt is all set to invite Expressions of Interest (EoI) for the company this week, which is basically a move to privatise this PSU.

Buyers have time till mid-Feb to submit their EoIs.

The Govt is planning to sell its entire 63.75% stake in SCI, along with transfer of management control. And based on the current price, this stake sale is valued at around Rs.2700 crore.

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