SCI sets sail on acquisition of vessels

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IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
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ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 08/06/2009 | 12:00 AM IST

Shipping

Capital Market

Monday, June 08, 2009 (New Delhi)

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The company announced the acquisition of vessels after trading hours on Friday, 5 June 2009.

Meanwhile, the BSE Sensex was down 11.19 points, or 0.07%, 15,092.36.

On BSE, 525 shares were traded in the counter. The stock had an average daily volume of 4.86 lakh shares in the past one quarter.

The stock hit a high of Rs 146.80 and a low of Rs 145 so far during the day. The stock hit a 52-week high of Rs 176.67 on 18 June 2008 and a 52-week low of Rs 67 on 8 December 2008.

The mid-cap stock had outperformed the market over the past one month till 5 June 2009, surging 60.22% as compared to the Sensex's return of 24.50%. It had also outperformed also the market in the past one quarter, jumping 101.67% as compared to the Sensex's return of 84.24%.

The company's current equity is Rs 423.45 crore. Face value per share is Rs 10.

The current price of Rs 146.80 discounts the company's Q3 December 2008 annualized EPS of Rs 17.52, by a PE multiple of 8.38.

Shipping Corporation of India has signed a shipbuilding contract with Cochin Shipyard for acquisition of two 120 tonnes bollard pull anchor handling, towing and supply vessels (AHTSVs).

Shipping Corporation of India (SCI) will declare its Q4 March 2009 results on 15 June 2009. The company's net profit rose 4.9% to Rs 185.43 crore on 21.6% increase in net sales to Rs 1113.13 crore in Q3 December 2008 over Q3 December 2007.

Shipping Corporation of India (SCI) owns, operates and manages a fleet of bulk carriers, international container service, liquid/dry bulk service, tankers, passenger vessels and offshore supply vessels. The company's fleet transports primarily crude oil.

The Government of India holds 80.12% stake in the company (as on 31 March 2009).