Shipping Of India logo

SCI - Shipping Of India News Story

₹57.55 1.6  2.9%

Last Trade - 18/09/20

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 
 ((; +91 22 61807225))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.