Shares of Shipping Corporation of India Ltd. continue to hit fresh record high for the second straight session on Friday, even after the company clarified that media reports about it entering into a joint venture with a state-run oil marketing company for manufacturing very large oil tankers were rumours.
The stock was also supported by reports that the government may announce the establishment of a maritime development fund during the budget to support the shipping sector.
Following these reports, shares of the company remained locked in the 20% upper circuit on Thursday.
SCI clarified that it follows a consistent corporate governance policy to intimate to the exchanges of all price-sensitive information that has a bearing on the operations and performance of the company.
Shares of Shipping Corporation of India Ltd. continue to hit fresh record high for the second straight session on Friday, even after the company clarified that media reports about it entering into a joint venture with a state-run oil marketing company for manufacturing very large oil tankers were rumours.
The stock was also supported by reports that the government may announce the establishment of a maritime development fund during the budget to support the shipping sector. Following these reports, shares of the company remained locked in the 20% upper circuit on Thursday.
SCI clarified that it follows a consistent corporate governance policy to intimate to the exchanges of all price-sensitive information that has a bearing on the operations and performance of the company.
