SCI nosedives on bad Q2 results
DSIJ Intelligence / 17 Nov 2016
Shipping Corporation of India (SCI) is having bad day on the streets. The company's stock is the biggest loser for the day as on 9.50 am. The stock, which had previously closed at Rs 63.05, opened at Rs 58.95, down by 7 per cent.
Shipping Corporation of India (SCI) is having bad day on the streets. The company's stock is the biggest loser for the day as on 9.50 am. The stock, which had previously closed at Rs 63.05, opened at Rs 58.95, down by 7 per cent. The main reason for the steep fall in the share price has been the poor Q2 numbers of the company.
SCI has posted a net loss of Rs 20 crore in Q2FY17. The company's income from operations during the quarter under review also declined to Rs 758.7 crore, as against Rs 1,091 crore in the year-ago period. The company's share price in the last three months has fallen by 20 per cent. The 52-week high/low of the company stood at Rs 100.90/54.50.