From mint · Vaamanaa Sethi · · 1m 20s
Shipping Corp Shares Jump 4% as SCI Targets 2000 Cr Profit
Shipping Corporation of India shares surged 4% today after Union Minister Sarbananda Sonowal cited plans to hit ₹2,000 crore profit this fiscal year.
In brief
Shipping Corporation of India shares surged 4% today after Union Minister Sarbananda Sonowal cited plans to hit ₹2,000 crore profit this fiscal year. Shipping Corporation of India shares rose 4% on Monday as Union Minister Sarbananda Sonowal announced plans to achieve ₹2,000 crore profit for the current fiscal year…
Share Price Jump
Shipping Corporation of India shares rose 4% today on NSE after opening at ₹272 per share, hitting an intraday high of ₹287.50.
Market Recovery
The Sensex rose 452.84 points to 72,362.54, while the Nifty gained 121.10 points to 22,543.05, both showing strong recovery.
Profit Target
Union Minister Sarbananda Sonowal stated Shipping Corporation of India aims for ₹2,000 crore profit after tax this fiscal year.
Fleet Expansion
The company plans to add 30 vessels and 51 container vessels to its fleet, according to Union Minister Sonowal.
Recent Performance
Shipping Corporation of India shares gained 21.15% year-to-date and 21.60% over the past year, showing sustained positive momentum.
Long-Term Growth
SCI has delivered 85.15% returns over three years and 116.76% over five years, reflecting strong historical performance.
Technical Analysis
Analysts note ₹282 as immediate resistance; breaking above this level could push shares toward ₹294 and ₹305.
The big picture
Shipping Corporation of India shares rose 4% on Monday as Union Minister Sarbananda Sonowal announced plans to achieve ₹2,000 crore profit for the current fiscal year.
