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SCI - Shipping Of India News Story

₹57.55 1.6  2.9%

Last Trade - 18/09/20

Sector
Industrials
Size
Small Cap
Market Cap £280.8m
Enterprise Value £510.0m
Revenue £485.6m
Position in Universe 456th / 3004

BUZZ-Indian shipping stocks jump; likely new rules may boost fleet

Wed 14th October, 2015 5:19am
** Shipping Corp of India  SCI.NS  jumps 8.5 pct, Mercator 
 MRCT.NS  surges 10.3 pct, Great Eastern Shipping  GESC.NS  
rises 5 pct while Essar Shipping  ESPL.NS  gains 6.5 pct 
    ** New rules to boost India shipping fleet; may dent foreign 
shippers - source  ID:nL3N12D2RY  
    ** "Its an EPS accretive news if and when it materialises," 
a domestic fund manager said  
    ** Indian state-owned firms may have to give half their 
freight business to local shippers to help rescue an industry 
battered by the global commodities downturn  
    ** New Delhi is proposing importers sign 5-year contracts 
with local shipping firms 
    ** In 2013-14, India paid about $57 bln in freight payments 
to foreign firms 
    ** Shipping Minister Nitin Gadkari was not immediately 
available to comment 
 
 
 
 (RM: abhishek.vishnoi.thomsonreuters.reuters.net) 
 ((abhishek.vishnoi@thomsonreuters.com; +91 22 61807225))
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