SCI sets sail on expansion plan

Shipping Corporation of India rose 0.12% to Rs 215.15 at 14:39 IST on BSE on reports the company has lined up an investment of Rs 14,000 crore for buying 68 vessels by 2012.

The stock hit a high of Rs 218 and a low of Rs 214.35 so far during the day. The stock had a 52-week high of Rs 332 on 3 January 2008 and a 52-week low of Rs 154 on 22 January 2008.

The company’s current equity is Rs 282.30 crore. Face value per share is Rs 10.

The current price of Rs 215.15 discounts its year ended March 2007 EPS of Rs 25.05, by a PE multiple of 8.59.

Shipping Corporation of India (SCI)’s net profit declined 22% to Rs 176.78 on 11.5% fall in net sales to Rs 915.27 crore in Q3 December 2007 over Q3 December 2006.

SCI, a state-run shipping company, operates and manages a fleet of line vessels, tankers, bulk carriers, passenger vessels and off shore vessels.