Shares of the Shipping Corporation of India (SCI) rose sharply, reaching an intraday high of ₹291.10, marking a 9% increase. This surge was accompanied by a significant rise in trading volumes, reflecting strong investor interest. Union Minister Sarbananda Sonowal highlighted SCI's crucial role in helping India achieve its ambition of becoming a leading shipping nation.
- SCI shares increased by up to 9% to ₹291.10.
- Trading volume jumped over 12 times to 1.52 crore shares on the NSE.
- SCI expects its profit after tax to surpass ₹2,000 crore this fiscal year.
- Indian stock indices SENSEX and NIFTY50 showed gains amid broader market buying.
- Other stocks like Bharti Hexacom and Nuvama Wealth also saw volume surges.
Why did Shipping Corporation of India shares surge?
The primary reason for the surge in SCI shares was the announcement by Union Minister Sarbananda Sonowal about the company's significant role in India's shipping ambitions. Investors reacted positively to the forecast that SCI's profit after tax (PAT) would exceed ₹2,000 crore this fiscal year, up from ₹1,352.92 crore in the previous financial year. This optimistic outlook boosted market confidence, leading to increased buying activity.
How did trading volumes change for SCI and other stocks?
Trading volumes for SCI shares jumped dramatically, with 1.52 crore shares traded on the National Stock Exchange (NSE), a 12.3-fold increase compared to the average of 12.4 lakh shares. On the Bombay Stock Exchange (BSE), 2.32 lakh shares changed hands, significantly higher than the two-week average of 12,000 shares. Similar volume surges were observed in other stocks such as Bharti Hexacom and Nuvama Wealth, indicating broad market interest.
What was the broader market trend during this time?
On the same day, the Indian equity benchmarks showed positive movement. The SENSEX gained 420 points, reaching 72,329, while the NIFTY50 advanced by 129 points to 22,554. This upward trend was supported by buying interest in major companies including ICICI Bank, Reliance Industries, Bharti Airtel, ITC, Bajaj Finance, Axis Bank, and Eternal.
What other company performances were noted?
DMart reported an 18% annual increase in revenue for the second quarter, reaching ₹19,206 crore compared to ₹14,050.32 crore in the same period last year. The total number of DMart stores as of September 30, 2026, stood at 518, reflecting the company's expansion efforts. Trading volumes for DMart shares also saw a spike, increasing 3.8 times to 19.61 lakh shares compared to the average of 5.17 lakh shares.
What is the significance of SCI's profit forecast?
The forecasted profit after tax exceeding ₹2,000 crore is a strong indicator of SCI's financial health and growth potential. This improvement from the previous year's ₹1,352.92 crore suggests enhanced operational efficiency and market demand. Such financial strength positions SCI as a key player in India's shipping industry and supports the government's vision of elevating the country's status in global maritime trade.
