SCI

May 8 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SHIPPING CORPORATION OF INDIA LTD MARCH-QUARTER CONSOL PROFIT 4.05 BILLION RUPEES

• SHIPPING CORPORATION OF INDIA LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 15.13 BILLION RUPEES

• SHIPPING CORPORATION OF INDIA LTD - DIVIDNED OF 1 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;))

April 29 (Reuters) -

• INDIA GOVERNMENT OFFICIAL: SHIPPING CORPORATION OF INDIA IS LIKELY TO START SENDING THEIR SHIPS TO MIDDLE EAST

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;))

By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, March 18 (Reuters) - India is considering shelving three planned privatisation sales amid weak investor appetite, two government sources said, a slump that has already derailed its attempt to sell a stake in IDBI Bank and is a fresh blow to the government's flagship divestment programme.

The privatisation plan, delayed for years, is now facing fresh setbacks that include dwindling interest in state‑run firms such as Shipping Corporation of India SCI.NS and HLL Lifecare, besides the collapse of the IDBI Bank IDBI.NS stake sale last week after bids fell short of the government's minimum price.

India's finance, shipping and health ministries and the companies did not respond to Reuters' queries.

Prime Minister Narendra Modi's ambitious privatisation plan was aimed at having the state exit most sectors while remaining only in sensitive ones such as telecom and banking.

But the government could only sell Air India to Tata Sons, and indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel TISC.NS, and Ferro Scrap Nigam to Konoike Transport Co 9025.T.

The initial delays to the plan came from bureaucratic red tape and political pushback after Modi failed to secure a full majority in 2024 elections and had to rely on regional allies to form the government.

DWINDLING BUYER INTEREST

India had invited bids to privatise Shipping Corporation in 2020 and received interest from multiple bidders, but a later review found the shortlisted bidders were ineligible to acquire the firm, the two government sources said.

The divestment department has since proposed scrapping the sale and either restarting the process, or exploring a merger with Container Corporation of India CCRI.NS to integrate the logistics chain, the sources said.

The government had also targeted privatising Container Corporation of India in 2021-22 but never launched the sale.

Another state-run firm, HLL Lifecare, was put on the block in 2021 and financial bids were invited for the sale. However, interested bidders declined to move ahead with the process and sought changes in the sale offer terms, both the sources said, without giving details.

The government is however yet to take a final call on shelving the current stake sale plans in these three state-run companies, one of the two sources said.

The details of the sales processes of these three state-run firms have not been previously reported.

Operational inefficiencies, unclear asset transfers and high government pricing expectations, coupled with limited incentives, are keeping investor interest weak and stalling privatisation, said Ankur Wahal, director at professional services firm En Pointe Adwisers.

HIGHER VALUATION

IDBI Bank's scrapped sale derailed what was seen as a model for future bank privatisations, after a high reserve price and Middle East‑related geopolitical uncertainty curbed investor interest, an industry source said.

Also, the lack of protection for liabilities such as pension and gratuity dues further deterred investors.

The failed sale will likely hit divestment receipts for the next financial year, starting April  1, Wahal said. India has targeted 800 billion rupees ($8.66 billion), in asset monetisation and divestments, with a significant portion earlier expected from IDBI Bank.

This comes as the Middle East crisis threatens to raise India's oil import bill, adding pressure through higher inflation and a wider current account deficit.

"The government's privatisation plan has hit a wall," said N.R. Bhanumurthy, director at the Madras School of Economics. Potential bidders will be interested in acquiring state-run companies if valuations are attractive, he said.

($1 = 92.3760 Indian rupees)

(Reporting by Nikunj Ohri & Sarita Chaganti Singh in New Delhi; Additional reporting by Gopika Gopakumar in Mumbai and Raju Gopalakrishnan)

((nikunj.ohri@thomsonreuters.com; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

March 13 (Reuters) - shipping corporation of India Ltd SCI.NS:

• TAX DEMAND REVISED TO 600.7 MILLION RUPEES FROM 1.6 BILLION RUPEES

Source text: ID:nBSE1ThdX4

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shipping Corporation Of India shares SCI.NS jump 13.5% to 251.63 rupees

** Q3 consol profit jumps to 4.05 bln rupees ($44.7 mln) from 755.2 mln rupees year ago; consol revenue rises 22.5% Y/Y

** SCI rose 11% in 2025

($1 = 90.5150 Indian rupees)

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))

Feb 6 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SHIPPING CORPORATION OF INDIA LTD - DECLARES DIVIDEND OF 3.5 RUPEES PER SHARE

• SHIPPING CORPORATION OF INDIA DEC-QUARTER CONSOL PROFIT 4.05 BILLION RUPEES

• SHIPPING CORPORATION OF INDIA DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 16.12 BILLION RUPEES

Source text: [ID:]

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;))

Feb 4 (Reuters) - shipping corporation of India Ltd SCI.NS:

• RECEIVED INCOME TAX REFUND OF 2 BILLION RUPEES

Source text: ID:nBSE1Cf8tv

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of Shipping Corporation Of India SCI.NS rise 6.3% to 233.35 rupees

** Shipping co signs a memorandum of understanding with

Bharat Petroleum Corporation BPCL.NS, Hindustan Petroleum Corp HPCL.NS, and Indian Oil Corporation IOC.NS

** MoU to jointly acquire, own, operate, and manage vessels

** Vessels to be used for international trade as well as coastal transport of petroleum, petroleum products, petrochemicals, and other hydrocarbon cargoes

** Trading vols at 7.1 mln shares so far, 4x the 30-day average

** SCI up ~12% YTD

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))

Aug 14 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SHIPPING CORPORATION OF INDIA - TAKES DELIVERY OF VERY LARGE GAS CARRIER OF 53,999 DWT CAPACITY

Source text: [ID:]

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

Aug 11 (Reuters) -

• INDIA STATE-RUN SHIPPER SHIPPING CORP. OF INDIA TO BUY LOCAL VESSELS IN $2 BILLION DEAL - BLOOMBERG NEWS

Source text: https://tinyurl.com/y5934r62

((reuters.briefs@thomsonreuters.com;))

Aug 8 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SHIPPING CORP OF INDIA JUNE-QUARTER CONSOL PROFIT 3.54 BILLION RUPEES

• SHIPPING CORP OF INDIA JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 13.16 BILLION RUPEES

Source text: [ID:]

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;))

July 16 (Reuters) - shipping corporation of India Ltd SCI.NS:

• DEMERGER SCHEME IS EXEMPTED FROM PAYMENTS OF STAMP DUTY

Source text: ID:nBSE3tq3Ct

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of Shipping Corporation of India SCI.NS rise about 3% to 228 rupees

** State-owned firm says it will acquire two second-hand gas carriers in Q2 of FY26, boosting tonnage

** Stock set to snap 3-day losing streak

** YTD, SCI up nearly 6% vs 5.1% gain in nifty 500 index .NIFTY500

(Reporting by Yagnoseni Das in Bengaluru)

((Yagnoseni.Das@thomsonreuters.com;))

July 4 (Reuters) - shipping corporation of India Ltd SCI.NS:

• EXECUTES MOA FOR ACQUISITION OF TWO VERY LARGE GAS CARRIERS

• TWO VLGCS TO BE INDUCTED INTO SCI FLEET IN FY 2025–26

• CARRIERS HAVING CARGO CARRYING CAPACITY OF 82,000 CBM

Source text: ID:nBSE3NH77y

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

May 16 (Reuters) - shipping corporation of India Ltd SCI.NS:

• MARCH-QUARTER CONSOL PROFIT 1.85 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 13.25 BILLION RUPEES

• DIVIDEND 6.59 RUPEESPER SHARE

Source text: ID:nBSE40kgYW

Further company coverage: SCI.NS

((Reutersbriefs@thomsonreuters.com;))

April 15 (Reuters) - shipping corporation of India Ltd SCI.NS:

• RECEIVES INCOME TAX REFUND OF 1.57 BILLION RUPEES

Source text: ID:nBSE7d4rsq

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

Feb 7 (Reuters) - shipping corporation of India Ltd SCI.NS:

• DEC-QUARTER CONSOL PROFIT 755.2 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 13.16 BILLION RUPEES

Source text: [ID:]

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Nidhi Verma

NEW DELHI, Feb 1 (Reuters) - India will set up a 250-billion-rupee ($2.9-billion) maritime development fund for the long-term financing of the country's shipbuilding and repair industry, Finance Minister Nirmala Sitharaman said on Saturday.

The South Asian nation is spending billions of dollars to refurbish infrastructure in an effort to become a world-class manufacturer as Prime Minister Narendra Modi aims for India to be a developed nation by 2047.

The government will contribute 49% of the fund and mobilise the remainder from ports and the private sector, Sitharaman in presenting budget proposals for the fiscal year from April 1.

India's shipping fleet has not kept pace with its surge in trade, including imports of energy and exports of refined oil products.

The government plans to set up a new shipping company with participation from oil refiners and Shipping Corp of India to expand its fleet to cut freight payments to foreign carriers, Reuters reported last year.

Shipping Corp's shares rose 3.8% after the budget announcement.

The governments will also promote shipbuilding clusters to increase the range, categories and capacity of ships, Sitharaman said. "This will include additional infrastructure facilities, skilling and technology to develop the entire ecosystem."

India will also issue credit notes for shipbreaking in Indian yards to incentivise the scrapping of old vessels and building of new ones.

Sitharaman announced extention of import tax exemption by 10 years on inputs needed for ship building and ship breaking activities.

($1 = 86.5360 Indian rupees)

(Reporting by Nidhi Verma; Editing by William Mallard)

((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.net))

By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Jan 27 (Reuters) - Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after slowing ambitious divestment plans that were intended to reduce the role of the state in business, according to government sources and a document reviewed by Reuters.

Less than a month into 2025, New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms after failing to sell them to private companies.

It has also decided to put in "abeyance" privatisation of at least nine state-owned units after opposition from relevant ministries, according to a document that detailed recommendations of a government panel set up to identify privatisation candidates. The document, reviewed by Reuters, did not cite reasons for the decision.

The nine companies include Madras Fertilizers MDFT.NS, Fertilizer Corp of India, MMTC MMTC.NS and NBCC (India) NBCC.NS, the document showed.

Housing and Urban Development Corp HUDC.NS, that was also identified for privatisation, has now been 'exempted' implying it will not be sold, according to the document.

Among the state-owned companies being revived with government funding is helicopter operator Pawan Hans.

The government is planning to infuse around $230 million-$350 million in Pawan Hans to modernise its aging fleet of helicopters after four failed attempts to sell the company, two government sources said.

The amount of infusion is still being finalised as the options being considered for fleet modernisation include both outright acquisition and leasing, one of the sources said.

The sources declined to be identified because of the sensitivity of the issue.

India's finance and civil aviation ministries did not immediately reply to e-mails seeking comment on the privatisation plans or on the Pawan Hans investment.

The fund infusion in Pawan Hans and plans to halt the privatisation of nine firms have not been previously reported.

In 2021, Modi's government announced a major programme to privatise most of India's state-run companies. The plan was so drastic that even in the four sectors that India sees as sensitive, such as telecoms and banking, it wanted to keep only a minimum presence, while exiting from all other sectors.

But now it is planning rescue and revival plans for companies even outside the sensitive sectors.

Last week, the government announced a $1.3 billion plan to revive debt-laden steel producer Rashtriya Ispat Nigam Ltd (RINL).

The government has also allocated 80 billion rupees in 2024/25 for bond repayments of state-run telco MTNL that has seen a series of defaults lately, according to budget documents for the current year.

PRIVATISATION SLOWDOWN

Four years since the privatisation policy was announced, the Modi government has had only three successes, out of which Air India's sale to the Tata Group was the largest. The other two were indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel TISC.NS and Ferro Scrap Nigam to Konoike Transport Co 9025.T.

Other large sales have either been deferred or delayed.

The U-turn in policy was partly driven by the expectation that some large state-owned firms could be overhauled and made more profitable, helping the government earn dividend income, Reuters has reported previously.

Political pressures on Modi have increased after he came back to power in mid-2024 only with the help of regional allies, making it more difficult to overcome opposition to privatisation by employee unions fearing job losses.

The sale of state refiner Bharat Petroleum Corp BPCL.NS was rolled back in 2022 after failing to get suitors. The ongoing privatisation of Shipping Corp of India SCI.NS and BEML BEML.NS has been stuck for years due to complications over transfer of land holdings. The government has also been dragging its feet on the sale of a majority stake in IDBI Bank IDBI.NS.

In previous years, privatisation formed an important part of the government’s plan to reduce its budget gap. But with the federal fiscal deficit seen falling to a more comfortable 4.9% of GDP in the 2024-25 year, the fiscal push for divestment has waned.

New Delhi is expected to miss its internal stake sale target of 180 billion to 200 billion rupees in 2024-25 (April-March) for the sixth straight year. As of January, government has mopped up 86.25 billion rupees via stake sales in 2024/25.

($1 = 86.4250 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Ira Dugal and Raju Gopalakrishnan)

((nikunj.ohri@thomsonreuters.com; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

** Shares of Shipping Corporation of India SCI.NS rise as much as 14.3% to 242.70 rupees, mark sharpest intraday pct gain since July 11

** State-owned shipping co on Friday reported more than four-fold jump Y/Y in Q2 consol profit while rev from ops rose 32.7% Y/Y

** SCI saw rise in revenue in all its segments, with Tanker business - more than 60% of co's Q2 rev - growing 16.8%

** Stock is witnessing its most active trading session since Aug. 12 with more than 21.5 mln shares changing hands, 11x its 30-day avg

** Stock up ~47% YTD, on track for sixth straight yearly gain

(Reporting by Ashish Chandra in Bengaluru)

((ashish.chandra@thomsonreuters.com (+91 7982114624))

Nov 8 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SEPT-QUARTER CONSOL PROFIT 2.91 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 14.51 BILLION RUPEES

• NAMES CHARUSHEELA L. GOLAPALLI AS CFO

Source text: ID:nBSE56DnMN

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;;))

shipping corporation of India Ltd SCI.NS:

• SHIPPING CORP- UNIT GOT LETTER OF APPROVAL FOR KANDLA SPECIAL ECONOMIC ZONE

• SHIPPING CORPORATION OF INDIA LTD- SPECIAL ECONOMIC ZONE FACILITIES EXTENDED

Source text for Eikon: ID:nBSE1jFpJq

Further company coverage: SCI.NS

** Shares of Shipping Corporation Of India SCI.NS rise 9.5% to 281.7 rupees

** State-owned shipping co reported a 70% rise in Q1 consolidated profit, rev from ops up 26%

** Co aided by strong demand in core tanker segment

** Stock up 73% YTD, up to last close

(Reporting by Ashna Teresa Britto in Bengaluru)

((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))

July 11 (Reuters) - shipping corporation of India Ltd SCI.NS:

• CLARIFIES ON NEWS CO, NMDC STEEL AT ADVANCED STAGES OF STRATEGIC SALE

• UNAWARE ABOUT ANY SUCH EVENT

Further company coverage: SCI.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of Great Eastern Shipping Company GESC.NS rise 2.5% to 1096.7 rupees

** Co signs contract to buy medium range product tanker of about 49,990 dwt to expand, modernise fleet

** Stock up for third straight day; trading above key 50-, 100-, 200- day moving avgs

** More than 814,000 shares traded, 0.6x its 30-day avg

** Stock up 12% YTD, continuing a rally for fourth consecutive year; peers Seamec Limited SEAM.NS and Shipping Corporation of India SCI.NS are up ~2% and ~50%, respectively

(Reporting by Aleef Jahan in Bengaluru)

((aleefjahan.cs@thomsonreuters.com))

** Shares of Container Corporation of India CCRI.NS rise as much as 5.7% to day's high of 1,002.55 rupees

** State-owned logistics firm trims some gains to last trade 2.1% higher

** Says it signed an MoU with Shipping Corporation of India SCI.NS; SCI up 1.6%

** Partnership aims to leverage each company's infrastructure and expertise for seamless, cost-effective logistics across all transport modes, CCRI says

** More than 7.9 mln shares change hands by 12:43 p.m. IST, 2.6x its 30-day avg

** Average rating of 22 analysts covering the stock is "hold"; median PT is 1,050 rupees - LSEG data

** Including the session's gain, CCRI is up 12.6% year-to-date, SCI up 34%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))

June 4 (Reuters) - Container Corporation of India Ltd CCRI.NS:

• CONTAINER CORPORATION OF INDIA LTD - CO AND SHIPPING CORPORATION OF INDIA SIGNED AN MOU

Source text for Eikon: ID:nBSE7pl0LG

Further company coverage: CCRI.NS

((Reuters.Briefs@thomsonreuters.com;))

** Shares of ship builder Cochin Shipyard COCH.NS jump as much as 6.3% to a record high of 1,047.50 rupees, third all-time high so far this month

** Over 256,000 trade in 4 block deals as of 10:27 a.m. IST at 1028.30-1044.55 rupees - LSEG

** Shipping Corp Of India SCI.NS, Garden Reach Shipbuilders & Engineers GRSE.NS, Mazagon Dock Shipbuilders MAZG.NS also up 2%-9%

** Reuters could not immediately ascertain reason for stock moves

** SCI set for fifth straight winning session, if gains hold

** GRSE most active since early Jan, with 3.5 mln shares traded so far

** Over 51,500 shares MAZG trade in 2 block deals as of 10:11 a.m. IST at 2148.85-2152.50 rupees - LSEG

** MAZG down 5.8% YTD, while GRSE up 1.3%

** COCH, SCI up ~53% and 36%, respectively, YTD

(Reporting by Rama Venkat in Bengaluru)

((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))

March 28 (Reuters) - shipping corporation of India Ltd SCI.NS:

• SOLD ONE PRODUCT TANKER “M.T. SUVARNA SWARAJYA”

Source text for Eikon: [ID:]

Further company coverage: SCI.NS

((reuters.briefs@thomsonreuters.com;))

By Manoj Kumar and Nidhi Verma

NEW DELHI, March 7 (Reuters) - India aims to convert its entire coastal and inland waterways shipping to renewable energy in the next five years, the shipping secretary said on Thursday, aiding Prime Minister Narendra Modi's goal for net zero carbon emissions by 2070.

"We envision that all our vessels, which now use waterways, will all get converted into green. In five years, it is doable", T. K. Ramachandran said at an event organised by the Federation of Indian Chambers of Commerce and Industry.

India’s current share of renewable energy at major ports is less than 10% according to government estimates.

India, which extensively depends on foreign fleets, is also planning to add around 5,000 new vessels over the next decade to its existing capacity of about 1,500 vessels.

Last month, Modi launched the first Indian-made hydrogen-run ferry. Warship maker Garden Reach Shipbuilders & Engineers GRSE.NS has announced plans to develop green energy vessels that would use solar power and batteries.

Globally the shipping industry emits about 3% of the world's CO2 emissions. India's efforts to cut its carbon footprint will also help in meeting the International Maritime Organization's target to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050.

To boost its shipping industry, Asia's third-largest economy also plans to set up a Maritime Development Fund to help manufacture green vessels and ports, said another government official.

"We are in the initial stage of setting up the Maritime Development Fund," said R Lakshmanan, joint secretary in the federal shipping ministry, adding an announcement could be made later this year.

India plans to build green hydrogen hubs at three ports- Kandla, Thoothukudi, and Paradip, Lakshmanan said.

New Delhi has set an ambitious production target of 5

million metric tons of green hydrogen per annum by 2030.

($1 = 82.6780 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Chizu Nomiyama)

((manoj.kumar@thomsonreuters.com; +919810286200; Twitter:@manojgulnar;))