Buy PSU Shipping Stock Under Rs 190, Rallies 71% In 6-Months: ICICI Direct

ICICI Direct has assigned buy call to Navratna PSU stock Shipping Corporation Of India with target price of Rs 185 apiece. Last trading price of Shipping Corporation share on BSE is Rs 174.30 per share. If you buy Shipping Corporation Of India shares at last trading price of Rs 174.30 apiece, you can fetch likely upside of 6.14%. Shipping Corporation shares offered return of 71% in last 6-months. Shipping Corporation Of India has a market capitalisation of Rs 8118.88 crore. Check details below:

Shipping Corporation Of India Stock Performance & Return: The 52-week high price of Shipping Corporation Of India share on BSE is Rs 180.10 per share and 52-week low price is Rs 79.50 per share, respectively. Shipping Corporation Of India stock surged 19% in last 1-month, gained 18% in last 1-year, and offered return of 24% in last 2-years. In last 3-years, Shipping Corporation Of India shares gained 97% and rose 280% in last 5-years.

Shipping Corporation Of India Financials: The company earlier last year on November 3, 2023 declared a decline of 42.53% in its consolidated net profit to Rs 65.73 crore for the quarter ended September 30, 2023. It announced its net profit at Rs 114.38 crore in the year-ago period, as per the BSE filing. Its total income soared to Rs 1,661.89 crore during the quarter under consideration from Rs 1458 crore declared in the corresponding quarter of last year.

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 has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.