Shipping Corporation of India shares rally 14%, extend gains for 3rd day amid heavy volumes

Shipping Corporation of India (representative)

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26 Aug, 2025 12:21

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Shipping Corporation of India (SCI) shares rallied over 14 percent, extending gains for the third consecutive session. The shares of India's largest shipping company were hovering around Rs 180 apiece on March 20.

Notably, the sharp surge in the share price comes as the stock saw trading volumes, nearly 17 times higher than its 10-day average. The stock has now recovered strongly after hitting a 52-week low of Rs 138 per share on March 3. It is, however, still 53 percent lower than its 52-week high of Rs 384 per share, which it had hit in July last year.

SCI's share price rally comes as shares of defence and shipping companies surged, accompanying the overall market which saw bulls taking charge after a significant slump. Sensex was up over 600 points to hover around 76,077, while Nifty rose nearly 1 percent to stand at 23,113 on March 20.

SCI's subsidiary Shipping Corporation of India Land and Assets Limited also recorded a strong rise in its share price. The stock jumped nearly 10 percent to trade at around Rs 51 per share. The stock has now extended gains for the third consecutive day, rising nearly 16 percent till now.

Notably, Shipping Corporation of India is set to undergo a strategic sale, as part of the government's broader disinvestment strategy. The sale, which involves the government selling its 63.75 percent stake, was initially expected to fetch Rs 3,000 crore for the exchequer. However, prolonged delays have cast uncertainties over its completion.

Earlier, Moneycontrol had exclusively reported that the strategic sale is set to be delayed until FY26, as transferring the lease of key non-core assets, including the Shipping House and Maritime Training Institute in Mumbai, is facing hurdles.