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Shipping Corporation of India shares jump 14%, hit 52-week high after govt gets multiple bids for privatisation

DIPAM, in December, had invited expressions of interest (EoI) for strategic disinvestment of government's entire stake of 63.75 percent in Shipping Corp

March 02, 2021 / 10:40 AM IST
Shipping Corporation of India | DIPAM Secretary said multiple expressions of interest received for privatisation of Shipping Corporation and the said transaction will now move to the second stage.

Shipping Corporation of India | DIPAM Secretary said multiple expressions of interest received for privatisation of Shipping Corporation and the said transaction will now move to the second stage.

 
 
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Shipping Corporation of India (SCI) share price surged over 14 percent at open on March 2 after Department of Investment and Public Asset Management (DIPAM) Secretary said multiple expressions of interest were received for privatisation of the company and the said transaction will now move to the second stage.

The stock was trading at Rs 119.00, up Rs 15.30, or 14.75 percent at 09:24 hours. It has touched a 52-week high of Rs 122. It has touched an intraday high of Rs 122 and an intraday low of Rs 116.

The government has received multiple bids for privatisation of Shipping Corporation of India, DIPAM Secretary Tuhin Kanta Pandey said on March 1.

DIPAM, in December, had invited expressions of interest (EoI) for strategic disinvestment of government's entire stake of 63.75 percent in Shipping Corp of India, along with the transfer of management. The last date for submitting the bids was February 13, which was later extended to March 1.

"Multiple Expressions of Interest have been received for privatisation of Shipping Corporation of India Limited. The transaction will now move to the second stage," Pandey tweeted.
Moneycontrol News
first published: Mar 2, 2021 10:40 am

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