Shipping Corporation of India to discuss proposed demerger of non-core assets today

The Board of Directors of the Shipping Corporation of India (SCI) is scheduled to meet today, i.e. November 6, 2020. The board during the meet may also discuss a way forward for the proposed disinvestment in line with the various directions received from the competent authorities regarding probable demerger or hiving off of non-core assets.

The SCI Board may approve the engagement of Consultant for advising, undertaking and implementing "Demerger or Hiving off' as part of the Company's Disinvestment process proposed by the Government of India.

Shares of Shipping Corporation of India Ltd. was last trading in BSE at Rs.51.05 as compared to the previous close of Rs. 50.05.

Shipping Corporation of India Ltd

The Shipping Corporation of India (SCI) is a Government of India Public Sector Enterprise with its headquarters in Mumbai, Maharashtra. It is the largest Indian Shipping Company, which operates and manages vessels that services both national and international lines. As the country's premier shipping line, the SCI owns and operates around one-third of the Indian tonnage, and has operating interests in practically all areas of the shipping business; servicing both national and international trades.

SCI's owned fleet includes Bulk carriers, Crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, Phosphoric Acid / Chemical carriers, LPG / Ammonia carriers and Offshore Supply Vessels. Sailing through for nearly five decades, the SCI today has a significant presence on the global maritime map.