Time period given by analyst is Intra Day when Shipping Corporation of India Ltd. price can reach defined target.
Shipping Corporation of India Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 5647.81 Crore) operating in Shipping sector.
Shipping Corporation of India Ltd. key Products/Revenue Segments include Freight, Charter Hire, Demurrage, Contract Revenue and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1048.47 Crore, up 16.40 % from last quarter Total Income of Rs 900.73 Crore and down -11.03 % from last year same quarter Total Income of Rs 1178.43 Crore. Company reported net profit after tax of Rs 145.45 Crore in latest quarter.
Investment Rationale
The stock has broken out of a consolidation pattern on good volumes triggering a resumption of the uptrend. Technical indicator RSI has turned upwards after taking support at the 40 level suggesting strength in the stock.
Promoter/FII Holdings
Promoters held 63.7 per cent stake in the company as of June 30, 2021, while FIIs held 1 per cent, DIIs 10.4 per cent and public & others 24.7 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
