Shipping Corpn.India

June 20 (Reuters) - Three Indian-flagged tankers carrying more than 860,000 metric tons of oil and 94 Indian crew members have safely transited the Strait of Hormuz and are en route to India, shipping minister Sarbananda Sonowal said on Saturday.

Sonowal posted on X that the Desh Vaibhav, Desh Vibhor and Sanmar Herald had all completed the transit.

Oil shipments through the Strait of Hormuz picked up on Friday after the United States and Iran signed a ceasefire deal, with Gulf producers preparing to raise exports despite concerns over conditions set by Tehran for using the vital waterway.

Washington and Tehran released the text of an interim agreement signed on Wednesday to end the conflict, although U.S. President Donald Trump warned he could resume attacks and target Iranian officials if commitments are not honoured.

Prior to the transit of three cargoes, 13 Indian flagged cargoes were stranded in the Strait of Hormuz

"Our Ministry is actively coordinating with all relevant agencies to guarantee the absolute safety of Bharat's seafarers and energy lifelines," Sonowal added.

(Reporting by Devika Nair in Bengaluru and Nidhi Verma in New Delhi; Editing by Kevin Liffey)

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May 8 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SHIPPING CORPORATION OF INDIA LTD MARCH-QUARTER CONSOL PROFIT 4.05 BILLION RUPEES

• SHIPPING CORPORATION OF INDIA LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 15.13 BILLION RUPEES

• SHIPPING CORPORATION OF INDIA LTD - DIVIDNED OF 1 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: SCI.NS

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April 29 (Reuters) -

• INDIA GOVERNMENT OFFICIAL: SHIPPING CORPORATION OF INDIA IS LIKELY TO START SENDING THEIR SHIPS TO MIDDLE EAST

Further company coverage: SCI.NS

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** Shares of IDBI Bank IDBI.NS, Shipping Corp of India SCI.NS and Container Corp of India CCRI.NS pare gains to close 1.2% to 1.5% higher

** The pullback follows a Reuters report that India is considering shelving planned privatisation sales due to weak investor appetite, citing two government sources

** Container Corp, which was up 1.8% ahead of the report, trimmed gains to 0.7% before closing 1.4% higher

** Shipping Corp and IDBI Bank, which were up 1.8% and 2%, settled 1.5% and 1.1% higher, respectively

(Reporting by Nishit Navin in Bengaluru)

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March 13 (Reuters) - shipping corporation of India Ltd SCI.NS:

• TAX DEMAND REVISED TO 600.7 MILLION RUPEES FROM 1.6 BILLION RUPEES

Source text: ID:nBSE1ThdX4

Further company coverage: SCI.NS

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** Shipping Corporation Of India shares SCI.NS jump 13.5% to 251.63 rupees

** Q3 consol profit jumps to 4.05 bln rupees ($44.7 mln) from 755.2 mln rupees year ago; consol revenue rises 22.5% Y/Y

** SCI rose 11% in 2025

($1 = 90.5150 Indian rupees)

(Reporting by Vijay Malkar)

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Feb 6 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SHIPPING CORPORATION OF INDIA LTD - DECLARES DIVIDEND OF 3.5 RUPEES PER SHARE

• SHIPPING CORPORATION OF INDIA DEC-QUARTER CONSOL PROFIT 4.05 BILLION RUPEES

• SHIPPING CORPORATION OF INDIA DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 16.12 BILLION RUPEES

Source text: [ID:]

Further company coverage: SCI.NS

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Feb 4 (Reuters) - shipping corporation of India Ltd SCI.NS:

• RECEIVED INCOME TAX REFUND OF 2 BILLION RUPEES

Source text: ID:nBSE1Cf8tv

Further company coverage: SCI.NS

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** Shares of Shipping Corporation Of India SCI.NS rise 6.3% to 233.35 rupees

** Shipping co signs a memorandum of understanding with

Bharat Petroleum Corporation BPCL.NS, Hindustan Petroleum Corp HPCL.NS, and Indian Oil Corporation IOC.NS

** MoU to jointly acquire, own, operate, and manage vessels

** Vessels to be used for international trade as well as coastal transport of petroleum, petroleum products, petrochemicals, and other hydrocarbon cargoes

** Trading vols at 7.1 mln shares so far, 4x the 30-day average

** SCI up ~12% YTD

(Reporting by Vijay Malkar)

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Aug 14 (Reuters) - shipping corporation of India Ltd SCI.NS:

• RECEIVES FAVOURABLE ORDER FROM CESTAT MUMBAI

• EXPECTS 1.46 BILLION RUPEES REDUCTION IN LIABILITY

Source text: ID:nBSE4Nlhhk

Further company coverage: SCI.NS

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Aug 11 (Reuters) -

• INDIA STATE-RUN SHIPPER SHIPPING CORP. OF INDIA TO BUY LOCAL VESSELS IN $2 BILLION DEAL - BLOOMBERG NEWS

Source text: https://tinyurl.com/y5934r62

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Aug 8 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SHIPPING CORP OF INDIA JUNE-QUARTER CONSOL PROFIT 3.54 BILLION RUPEES

• SHIPPING CORP OF INDIA JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 13.16 BILLION RUPEES

Source text: [ID:]

Further company coverage: SCI.NS

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July 16 (Reuters) - shipping corporation of India Ltd SCI.NS:

• DEMERGER SCHEME IS EXEMPTED FROM PAYMENTS OF STAMP DUTY

Source text: ID:nBSE3tq3Ct

Further company coverage: SCI.NS

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** Shares of Shipping Corporation of India SCI.NS rise about 3% to 228 rupees

** State-owned firm says it will acquire two second-hand gas carriers in Q2 of FY26, boosting tonnage

** Stock set to snap 3-day losing streak

** YTD, SCI up nearly 6% vs 5.1% gain in nifty 500 index .NIFTY500

(Reporting by Yagnoseni Das in Bengaluru)

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July 4 (Reuters) - shipping corporation of India Ltd SCI.NS:

• EXECUTES MOA FOR ACQUISITION OF TWO VERY LARGE GAS CARRIERS

• TWO VLGCS TO BE INDUCTED INTO SCI FLEET IN FY 2025–26

• CARRIERS HAVING CARGO CARRYING CAPACITY OF 82,000 CBM

Source text: ID:nBSE3NH77y

Further company coverage: SCI.NS

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May 16 (Reuters) - shipping corporation of India Ltd SCI.NS:

• MARCH-QUARTER CONSOL PROFIT 1.85 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 13.25 BILLION RUPEES

• DIVIDEND 6.59 RUPEESPER SHARE

Source text: ID:nBSE40kgYW

Further company coverage: SCI.NS

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April 15 (Reuters) - shipping corporation of India Ltd SCI.NS:

• RECEIVES INCOME TAX REFUND OF 1.57 BILLION RUPEES

Source text: ID:nBSE7d4rsq

Further company coverage: SCI.NS

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Feb 7 (Reuters) - shipping corporation of India Ltd SCI.NS:

• DEC-QUARTER CONSOL PROFIT 755.2 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 13.16 BILLION RUPEES

Source text: [ID:]

Further company coverage: SCI.NS

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** Shares of Indian shipbuilding stocks jump as Finance Minister Nirmala Sitharaman unveils maritime development fund with corpus of 250 bln rupees ($2.89 bln) in budget

** Garden Reach Shipbuilders and Engineers GRSE.NS and Mazagon Dock Shipbuilders MAZG.NS rise 3.4% and 1.7% respectively; Shipping Corp of India SCI.NS jumps 5.3%

($1 = 86.5360 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Jan 27 (Reuters) - Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after slowing ambitious divestment plans that were intended to reduce the role of the state in business, according to government sources and a document reviewed by Reuters.

Less than a month into 2025, New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms after failing to sell them to private companies.

It has also decided to put in "abeyance" privatisation of at least nine state-owned units after opposition from relevant ministries, according to a document that detailed recommendations of a government panel set up to identify privatisation candidates. The document, reviewed by Reuters, did not cite reasons for the decision.

The nine companies include Madras Fertilizers MDFT.NS, Fertilizer Corp of India, MMTC MMTC.NS and NBCC (India) NBCC.NS, the document showed.

Housing and Urban Development Corp HUDC.NS, that was also identified for privatisation, has now been 'exempted' implying it will not be sold, according to the document.

Among the state-owned companies being revived with government funding is helicopter operator Pawan Hans.

The government is planning to infuse around $230 million-$350 million in Pawan Hans to modernise its aging fleet of helicopters after four failed attempts to sell the company, two government sources said.

The amount of infusion is still being finalised as the options being considered for fleet modernisation include both outright acquisition and leasing, one of the sources said.

The sources declined to be identified because of the sensitivity of the issue.

India's finance and civil aviation ministries did not immediately reply to e-mails seeking comment on the privatisation plans or on the Pawan Hans investment.

The fund infusion in Pawan Hans and plans to halt the privatisation of nine firms have not been previously reported.

In 2021, Modi's government announced a major programme to privatise most of India's state-run companies. The plan was so drastic that even in the four sectors that India sees as sensitive, such as telecoms and banking, it wanted to keep only a minimum presence, while exiting from all other sectors.

But now it is planning rescue and revival plans for companies even outside the sensitive sectors.

Last week, the government announced a $1.3 billion plan to revive debt-laden steel producer Rashtriya Ispat Nigam Ltd (RINL).

The government has also allocated 80 billion rupees in 2024/25 for bond repayments of state-run telco MTNL that has seen a series of defaults lately, according to budget documents for the current year.

PRIVATISATION SLOWDOWN

Four years since the privatisation policy was announced, the Modi government has had only three successes, out of which Air India's sale to the Tata Group was the largest. The other two were indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel TISC.NS and Ferro Scrap Nigam to Konoike Transport Co 9025.T.

Other large sales have either been deferred or delayed.

The U-turn in policy was partly driven by the expectation that some large state-owned firms could be overhauled and made more profitable, helping the government earn dividend income, Reuters has reported previously.

Political pressures on Modi have increased after he came back to power in mid-2024 only with the help of regional allies, making it more difficult to overcome opposition to privatisation by employee unions fearing job losses.

The sale of state refiner Bharat Petroleum Corp BPCL.NS was rolled back in 2022 after failing to get suitors. The ongoing privatisation of Shipping Corp of India SCI.NS and BEML BEML.NS has been stuck for years due to complications over transfer of land holdings. The government has also been dragging its feet on the sale of a majority stake in IDBI Bank IDBI.NS.

In previous years, privatisation formed an important part of the government’s plan to reduce its budget gap. But with the federal fiscal deficit seen falling to a more comfortable 4.9% of GDP in the 2024-25 year, the fiscal push for divestment has waned.

New Delhi is expected to miss its internal stake sale target of 180 billion to 200 billion rupees in 2024-25 (April-March) for the sixth straight year. As of January, government has mopped up 86.25 billion rupees via stake sales in 2024/25.

($1 = 86.4250 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Ira Dugal and Raju Gopalakrishnan)

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** Shares of Shipping Corporation of India SCI.NS rise as much as 14.3% to 242.70 rupees, mark sharpest intraday pct gain since July 11

** State-owned shipping co on Friday reported more than four-fold jump Y/Y in Q2 consol profit while rev from ops rose 32.7% Y/Y

** SCI saw rise in revenue in all its segments, with Tanker business - more than 60% of co's Q2 rev - growing 16.8%

** Stock is witnessing its most active trading session since Aug. 12 with more than 21.5 mln shares changing hands, 11x its 30-day avg

** Stock up ~47% YTD, on track for sixth straight yearly gain

(Reporting by Ashish Chandra in Bengaluru)

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Nov 8 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SEPT-QUARTER CONSOL PROFIT 2.91 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 14.51 BILLION RUPEES

• NAMES CHARUSHEELA L. GOLAPALLI AS CFO

Source text: ID:nBSE56DnMN

Further company coverage: SCI.NS

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shipping corporation of India Ltd SCI.NS:

• SHIPPING CORP- UNIT GOT LETTER OF APPROVAL FOR KANDLA SPECIAL ECONOMIC ZONE

• SHIPPING CORPORATION OF INDIA LTD- SPECIAL ECONOMIC ZONE FACILITIES EXTENDED

Source text for Eikon: ID:nBSE1jFpJq

Further company coverage: SCI.NS

** Shares of Shipping Corporation Of India SCI.NS rise 9.5% to 281.7 rupees

** State-owned shipping co reported a 70% rise in Q1 consolidated profit, rev from ops up 26%

** Co aided by strong demand in core tanker segment

** Stock up 73% YTD, up to last close

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Indian shipping companies up 5%-20%

** Government may announce incentives and launch Maritime Development Fund (MDF) for shipping services providers and shipbuilders in July 23 budget, broadcaster CNBC Awaaz reports, citing sources

** Adds, MDF likely to receive allocation of 150 bln rupees to 200 bln rupees (1.79 bln-$2.39 bln) to help shipbuilders, like Shipping Corp SCI.NS, avail long-term loans at lower costs

** SCI and peer Shreyas Shipping SRSH.NS up 20% each; SCI at record high while SRSH eyes best day since May 2023

** Garden Reach Shipbuilders GRSE.NS, Cochin Shipyard COCH.NS and Mazagon Dock MAZG.NS up 5% each; Seamec SEAM.NS up 6.4% at record high

($1 = 83.5685 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Great Eastern Shipping Company GESC.NS rise 2.5% to 1096.7 rupees

** Co signs contract to buy medium range product tanker of about 49,990 dwt to expand, modernise fleet

** Stock up for third straight day; trading above key 50-, 100-, 200- day moving avgs

** More than 814,000 shares traded, 0.6x its 30-day avg

** Stock up 12% YTD, continuing a rally for fourth consecutive year; peers Seamec Limited SEAM.NS and Shipping Corporation of India SCI.NS are up ~2% and ~50%, respectively

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Container Corporation of India CCRI.NS rise as much as 5.7% to day's high of 1,002.55 rupees

** State-owned logistics firm trims some gains to last trade 2.1% higher

** Says it signed an MoU with Shipping Corporation of India SCI.NS; SCI up 1.6%

** Partnership aims to leverage each company's infrastructure and expertise for seamless, cost-effective logistics across all transport modes, CCRI says

** More than 7.9 mln shares change hands by 12:43 p.m. IST, 2.6x its 30-day avg

** Average rating of 22 analysts covering the stock is "hold"; median PT is 1,050 rupees - LSEG data

** Including the session's gain, CCRI is up 12.6% year-to-date, SCI up 34%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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June 4 (Reuters) - Container Corporation of India Ltd CCRI.NS:

• CONTAINER CORPORATION OF INDIA LTD - CO AND SHIPPING CORPORATION OF INDIA SIGNED AN MOU

Source text for Eikon: ID:nBSE7pl0LG

Further company coverage: CCRI.NS

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** Shares of ship builder Cochin Shipyard COCH.NS jump as much as 6.3% to a record high of 1,047.50 rupees, third all-time high so far this month

** Over 256,000 trade in 4 block deals as of 10:27 a.m. IST at 1028.30-1044.55 rupees - LSEG

** Shipping Corp Of India SCI.NS, Garden Reach Shipbuilders & Engineers GRSE.NS, Mazagon Dock Shipbuilders MAZG.NS also up 2%-9%

** Reuters could not immediately ascertain reason for stock moves

** SCI set for fifth straight winning session, if gains hold

** GRSE most active since early Jan, with 3.5 mln shares traded so far

** Over 51,500 shares MAZG trade in 2 block deals as of 10:11 a.m. IST at 2148.85-2152.50 rupees - LSEG

** MAZG down 5.8% YTD, while GRSE up 1.3%

** COCH, SCI up ~53% and 36%, respectively, YTD

(Reporting by Rama Venkat in Bengaluru)

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March 28 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SOLD ONE PRODUCT TANKER “M.T. SUVARNA SWARAJYA”

Source text for Eikon: [ID:]

Further company coverage: SCI.NS

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