Rs 215 Multibagger Shipping PSU Stock To Mull Results, Dividend; Shares Slip 25.89% From Highs

Navratna PSU stock Shipping Corporation Of India informed today about its upcoming meeting of Board of Directors scheduled to be held as on May 17, 2024. Current market price of Shipping Corporation Of India share on BSE is Rs 215.35 per share. Shipping Corporation Of India shares witnessed decline of over 7% in last 1-week and gained 127% in last 1-year. Currently, Shipping Corporation Of India shares are trading at a discount of 25.89% from 52-week high price of Rs 290.60 per share.

FII/FPI have increased holdings from 3.27% to 4.66% in March 2024 quarter. Number of FII/FPI investors increased from 100 to 119 in March 2024 quarter. Institutional Investors have increased holdings from 11.26% to 12.59% in March 2024 quarter. Life Insurance Corporation Of India (LIC) has 3.14% stake in the PSU with 14,606,834 shares. More details below:

Shipping Corporation Of India To Consider Results, Dividend, If Any: As per the regulatory filing of Shipping Corporation Of India dated May 6, 2024, "a Meeting of the Board of Directors of SCI is scheduled to be held on Friday, 17.05.2024, inter alia, to:
1. Consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended on 31.03.2024 and
2. Consider dividend on equity shares, if any."

Bonus Share History: Shipping Corporation of India Ltd. offered 1 bonus issue since October 29, 2008. The last Bonus that Shipping Corporation of India Ltd. declared was in the ratio 1:2 with ex-date fixed as October 29, 2008.

Dividend History: Shipping Corporation of India Ltd. announced 20 dividends since June 7, 2001. In last 1-year, Shipping Corporation of India announced an equity dividend amounting to Re 0.44 per share. At the current share price of Rs 215.35 apiece, Shipping Corporation of India offers a dividend yield of 0.20%.

Shipping Corporation Of India Share Performance: The 52-week high price of Shipping Corporation Of India share on BSE is Rs 290.60 per share (as on 5/2/2024) and 52-week low price is Rs 93.70 per share (as on 22/05/2023), respectively. Shipping Corporation Of India share declined 19% in last 3-months, zoomed 63% in last 6-months, and offered return of 127% in last 1-year. In last 2-years, Shipping Corporation Of India share zoomed 73% and gained a whopping 542% in last 5-years.

About: Shipping Corporation Of India Ltd has been under Government of India (GoI) ownership and therefore its evolution, development and expansion has been shaped by GoI's objectives, commitments and obligations vis-à-vis the shipping sector. As a consequence, SCI has become India's largest and most diversified shipping company in India. The Government bestowed the status of "Navratna" on SCI in August 2008 leading to enhanced delegation of powers to our Board, including, but not limited to, the areas of capital investment, formation of joint venture, and opening of new offices.

Disclaimer: The stock highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.