SCI sailing smooth

PSU, Shipping Corporation of India (SCI) has jumped up smartly by almost 4% to hit an intraday high at Rs.122 on the back on around 2.5 times surge in volumes. Its 52-week high is at Rs.134.60.

There is unconfirmed news that Vedanta’s Anil Agarwal is looking at acquiring SCI and is reported to have carried out the required due diligence.

Agarwal joins US-based Safesea Group, Hyderabad-based Megha Engineering & Infrastructures, and London-based Foresight Group International for the deal.

The Govt has initiated the process of privatising SCI by selling the government’s 63.75% to a strategic buyer.