NITI Aayog Recommends Government to cut stake in Shipping Corporation of India
DSIJ Intelligence / 15 Jun 2017
NITI Aayog has proposed to reduce the government's stake in the company to 25% from current 63.75%, a cut of 38.75%. It proposes.
Shipping Corporation of India (SCI) shot up close to 16% in Thursday’s morning session. At Rs 86.70 per share, it was trading higher by 9.2% at 1037 hours IST on BSE. The stock witnessed a spurt in the volume by more than 6.72 times. It also hit a 52-week high value of Rs 92.The Shipping Corporation of India Limited is engaged in sea and coastal freight water transport business.
NITI Aayog has proposed to reduce the government's stake in the company to 25% from current 63.75%, a cut of 38.75%. It proposes. The government could earn around Rs 960 crore through this deal, reported a leading news agency.
NITI Aayog has recommended the Ministry of Shipping to divest stake in SCI in multiple tranches and said the government does not need to run SCI as industry is now competitive.
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