The Shipping Corporation of India Ltd signs MoU with BPCL, HPCL and IOCL

As part of the Government of India's initiative through the Ministry of Ports, Shipping and Waterways (MoPSW) and the Ministry of Petroleum and Natural Gas (MoPNG), the Shipping Corporation of India Ltd. (SCI) has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd. (HPCL), and Indian Oil Corporation Ltd. (IOCL).

The purpose of this collaboration is to build and operate fleet together that will support the vision of Atmanirbhar Bharat, strengthen India's shipping capacity, and improve country's energy security. Under this MoU, companies plans to jointly acquire, own, operate, and manage vessels. These vessels shall be used for international trade as well as coastal transport of petroleum, petroleum products, petrochemicals, and other hydrocarbon cargoes.

Shares of Shipping Corporation Of India Limited was last trading in BSE at Rs. 219.30 as compared to the previous close of Rs. 218.75. The total number of shares traded during the day was 145122 in over 2396 trades.

The stock hit an intraday high of Rs. 220.85 and intraday low of 217.75. The net turnover during the day was Rs. 31805686.00.

Source : Equity Bulls

Keywords

TheShippingCorporationOfIndia INE109A01011 SCI MoU BPCL HPCL IOCL