At 10:04 am, Shipping Corp of India was up 2.97 per cent at Rs 85, while Sensex dropped 0.40 per cent to 45,371.43 points. The stock had scaled a 52-week high of Rs 92.70 on Monday.
A PTI report said buyers will have time till mid February to submit expressions of interest (EoI). The government is planning to sell its entire 63.75 per cent stake in Shipping Corporation along with transfer of management control.
The stock has seen strong buying interest in recent times, and is up more than 61 per cent over the last one month. For the year to date, it is up 37 per cent.
The Cabinet Committee on Economic Affairs in November last year gave in-principle approval for the strategic divestment of Shipping Corp. However, the plans were delayed due to the pandemic. The 2020-21 Budget has set a record divestment target of Rs 2.1 lakh crore.
The government has so far raised Rs 11,006 crore through minority stake sale in CPSEs this fiscal year. Strategic sale process of BPCL and Air India is ongoing and both the companies have received multiple EoIs from potential buyers.
