SCI hits a new high

about 3 years ago
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Shipping Corporation of India (SCI) has been buzzing loud today. The stock, which had closed yesterday at Rs.141.25, went on to hit a new high today at Rs.145.45. It is now trading at Rs.141 levels, just about holding on to the green.

The stock hit the high after Niti Aayog proposed incorporating a subsidiary for hiving off the non-core assets of the company.

What are the non-core assets owned by SCI?

Freehold Land, with book value of Rs. 2,376 cr, as at 31-3-21, with land   in cites of Mumbai, Delhi, Chennai, Kolkata, and Bangalore, NPV of which is estimated at over Rs.7,500 crore by the experts. Of this land, SCI owns about 60 acres of land in Powai, Mumbai, which can be developed in a 60 lakh sq. feet residential project, having NPV of this land alone at Rs.2,750 cr.

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