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Sell Shipping Corporation; target of Rs 55: ICICI Direct

ICICI Direct is bearish on Shipping Corporation has recommended sell rating on the stock with a target price of Rs 55 in its research report dated February 17, 2017.

February 21, 2017 / 15:25 IST
     
     
    26 Aug, 2025 12:21
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    ICICI Direct's research report on Shipping Corporation

    Revenues declined 2% YoY (up 27% QoQ) to Rs 964.9 crore (I-direct estimate: Rs 838.1 crore). Revenues from tanker segment (77% of total revenues) grew 12% YoY to Rs 745.9 crore. However, offshore and bulk segment de-grew for a third consecutive quarter with a YoY decline of 39% and 30%, respectively in Q3FY1.

    Outlook

    We believe the inland waterway opportunity would take some time to pan out. This would be closely monitored. Amid a grim scenario, we maintain a cautious stance on the shipping industry. Consequently, we have a SELL recommendation on the stock with a target price of Rs 55.
    For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
    first published: Feb 21, 2017 03:25 pm

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