The Shipping Corporation of India Ltd gets Ministry approval for demerger of non-core assets

In Continuation to The Shipping Corporation of India Ltd's announcement dated 04.08.2021 regarding approval of the draft Scheme of Arrangement for Demerger of Non-Core Assets by the Board of Directors at its Meeting held on 03.08.2021, the Company vide letter dated 16th September, 2021 has received the approval from the Ministry of Ports, Shipping and Waterways for formation/Incorporation of a new Wholly Owned Subsidiary as a 'Resulting Company' for Demerger of Non-Core Assets of the Company.

The Company shall be taking all necessary steps for this.

Shares of Shipping Corporation Of India Ltd was last trading in BSE at Rs. 112 as compared to the previous close of Rs. 114.55. The total number of shares traded during the day was 137178 in over 1731 trades.

The stock hit an intraday high of Rs. 116.2 and intraday low of 111.3. The net turnover during the day was Rs. 15491836.

Source : Equity Bulls

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