Latest news with #ShippingCorporationofIndia
Time of India
4 days ago
- Time of India
Family alleges foul play in merchant navy cadet death
Indore: The mysterious death of a 23-year-old merchant navy cadet, Nikhil Shukla, at Bamniya Kund in Indore has raised serious questions, with the family alleging foul play and urging authorities to initiate a criminal investigation. Tired of too many ads? go ad free now The father of Nikhil Shukla, Anjul, called DSP Umakant Choudhary on Saturday and requested that a fresh inquiry be started and a case of murder be registered. He said that he found injury marks on Nikhil's body and suspected foul play in his death. Simrol police are now waiting for a diatom test, which will determine if he died by drowning. DSP Umakant Choudhary said, "The case is still under investigation and it has not been closed. If we get any evidence which supports their claims, an FIR will be registered." Nikhil, a navigating officer cadet with Shipping Corporation of India, recently completed sea time on three ships and appeared for his Second Mates' examination in Mumbai on July 1. A day later, he travelled to Indore along with a friend, intending to return home to Delhi. However, on July 3, he went on a road trip to Lodhiya Kund waterfall near Simrol along with that friend and two others. According to his parents, Anjul and Seema Shukla, Nikhil was in constant communication with his friend Saakshi throughout the trip. He was sharing videos and live location updates until 7:25 pm on July 3. Communication ceased after that. At around 11:26 pm, one of the friends messaged Saakshi claiming that Nikhil had "gone into the water flow and is not alive." The family claims they were not informed directly and were left to gather details through Nikhil's contacts. Tired of too many ads? go ad free now "We received a message nearly 30 minutes after he asked for our number, saying Nikhil was in an ambulance and had died. The responses we got were evasive and inconsistent," said Anjul. The family alleges that the three friends left the hospital before they arrived and have since avoided communication. The police were reportedly informed that Nikhil drowned around 6 pm while bathing. However, the family asserts that he was alive and communicating at least until 7:25 pm, contradicting the account given. "Nikhil, a trained swimmer, could not have drowned in a shallow stream," said Anjul. They further claim that post-incident photos and videos indicate visible injuries inconsistent with drowning — including head injuries, swelling, and bruises. "The trauma visible on his body demands urgent investigation. No FIR has been registered, and we are still waiting for the detailed forensics report, including viscera and diatom," he said. The family has submitted digital evidence — including call logs, chats, location data, videos, and images — to authorities via a Google Drive link and demanded that the verification of mobile call logs and GPS data be done. They are calling for forensic and post-mortem analysis of the injuries, examination of CCTV footage, eyewitness statements, and questioning of all individuals who accompanied Nikhil that day. "Our son's death cannot be brushed aside as an accident," he said. Despite the family's detailed submission, the complaint remains pending formal registration.
&w=3840&q=100)
Business Standard
07-07-2025
- Business
- Business Standard
Shipping Corporation shares rise 5% in trade; here's what's boosting rally
Shipping Corporation of India (SCI) shares climbed 4.5 per cent in trade, logging an intraday high at ₹231.45 per share. At 9:45 AM, Shipping Corporation shares were trading 4.29 per cent higher at ₹230.85 per share on the BSE. In comparison, the BSE Sensex was flat at 83,435.09. The company's market capitalisation stood at ₹10,752.97 crore. Its 52-week high was at ₹384.8 per share and 52-week low was at ₹138.25 per share. Why were SCI shares buzzing in trade? The northward movement in the stock came after the company executed a Memorandum of Agreement (MoA) for the acquisition of two second-hand Very Large Gas Carriers (VLGCs). SCI informed investors about the development after market hours on Friday. "SCI has executed a Memorandum of Agreement (MoA) on July 4, 2025, for the acquisition of two second-hand Very Large Gas Carriers (VLGCs) having a cargo carrying capacity of approximately 82,000 CBM," the filing read. These two VLGCs are expected to be inducted into the SCI's fleet during the current quarter of FY 2025–26, exchange filing added. Track Stock Market LIVE Updates SCI Q4FY25 result details In the quarter ended March 31, 2025, the company reported consolidated net profit at ₹185.14 crore, as compared to ₹307.28 crore a year ago. Its revenue for the quarter under review stood at ₹1,325.2 crore, as compared to ₹1,412.5 crore a year ago. Total expenses for the quarter stood at ₹1,242 crore as against ₹1,286.5 crore a year ago. About Shipping Corporation of India The Shipping Corporation of India (SCI), a Navratna public sector undertaking under the Ministry of Ports, Shipping and Waterways, is an Indian shipping company with a presence across all major segments—tankers, bulk carriers, containers, offshore vessels, break-bulk operations, and coastal and passenger services. SCI's vision is to be India's primary flag carrier for overseas and coastal trade and a leader in global maritime logistics, while its mission emphasises maintaining its 'Numero Uno' position in Indian shipping.
Business Standard
04-07-2025
- Business
- Business Standard
Shipping Corporation to induct two second-hand Very Large Gas Carriers
As part of Shipping Corporation of India's (SCI) business expansion plans and to augment the Company's tonnage capacity, SCI has executed a Memorandum of Agreement (MoA) on 04 July 2025 for the acquisition of two second-hand Very Large Gas Carriers (VLGCs) having a cargo carrying capacity of approximately 82,000 CBM. These two VLGCs are expected to be inducted into the SCI's fleet during the current quarter of FY 2025-26.
Business Upturn
02-07-2025
- Business
- Business Upturn
GE Shipping, Shipping Corporation of India and other shipping stocks in focus as Iran reportedly planned to mine the Strait of Hormuz
Shares of shipping companies like The Great Eastern Shipping Company (GESHIP), Shipping Corporation of India (SCI), and other maritime logistics firms are in focus after fresh geopolitical tensions emerged in the Middle East. According to a Reuters report, Iran reportedly loaded naval mines onto vessels in the Persian Gulf last month. This activity, which followed Israeli missile strikes on Iranian sites on June 13, has raised alarms in Washington about a potential attempt by Tehran to block the Strait of Hormuz. The narrow waterway is a critical global energy corridor, with nearly 20% of the world's oil and gas shipments passing through it. Although the mines have not yet been deployed, US intelligence officials view the move as a serious signal. Any disruption in the strait could severely affect global shipping and crude oil logistics, potentially impacting freight rates and boosting the earnings outlook for select shipping players. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash GESHIPShipping Corporation of India Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Economic Times
17-06-2025
- Business
- Economic Times
SCI shares slide 6% as profit-taking, Middle East truce hopes cool shipping rally
Shares of Shipping Corporation of India declined following a rally. Investors booked profits amid hopes of a Middle East truce. This tempered fears of prolonged shipping disruptions. Great Eastern Shipping Company shares also decreased. Tensions in the Middle East previously fueled investor demand for shipping stocks. India relies heavily on Gulf nations for crude oil imports. Tired of too many ads? Remove Ads Profit-booking follows Middle East-driven rally Tired of too many ads? Remove Ads Truce hopes cool panic trade Implications for India Shares of Shipping Corporation of India (SCI) fell as much as 6.1% to Rs 221 on Tuesday, reversing some of the sharp gains from the past two sessions as investors booked profits and growing optimism around a potential truce in the Middle East conflict tempered fears of prolonged disruption to global shipping downturn in SCI shares followed a near 18% rally across the last two sessions, fuelled by expectations of a surge in global tanker rates and mounting concerns over escalating tensions in the Middle East. Shares of peer Great Eastern Shipping Company also retreated, dropping 3.2% to Rs 972.70 on the BSE on Tuesday after gaining over 5% in the previous two shipping counters had seen strong investor demand last week, outpacing a broadly weaker market, after fears of global trade disruptions intensified amid renewed conflict in the Middle East. The surge came after an Israeli pre-emptive strike on Iran's nuclear facilities reportedly killed several top commanders and scientists, stoking fears that Iran might retaliate by closing or disrupting the Strait of Hormuz, a critical artery for global oil and gas appetite had risen on expectations of higher freight and tanker rates, with ships expected to reroute to avoid the volatile region. Any closure of the Strait, a narrow chokepoint handling nearly 30% of seaborne oil and 20% of global LNG, could send energy and shipping prices Tuesday, risk appetite shifted amid signs that equity markets were starting to price in a possible de-escalation. 'Optimism that a truce will be reached appears to be stronger in equity markets than elsewhere,' said Jamie McGeever, Markets Columnist at Reuters. McGeever noted that while 'gold gave back Friday's gains' and oil settled lower after last week's surge, 'equity investors may have it right' in assuming that the broader fallout might be McGeever cautioned, 'It's a very fluid situation, so investors' relief may be short-lived.' He added, 'Unless there is a real adverse oil price shock, it will probably be a similar story this time around, although spiking inflation would be problematic for central banks.'JP Morgan echoed a more measured view, stating that while the Strait of Hormuz is a vital global shipping chokepoint, 'The closure of Hormuz is a low-risk event as Iran would be damaging its own position, both economically and politically, by irritating its main customer.'For India, a prolonged disruption in the Strait of Hormuz could be particularly costly. With over 80% of India's crude oil imports coming from Gulf nations such as Iraq, Saudi Arabia, UAE, and Kuwait, any blockade would tighten supply and likely push up crude prices and shipping that scenario could benefit domestic shipping firms like SCI and GE Shipping through a spike in tanker rates, the broader economic impact, from inflationary pressure to a rise in import costs, could weigh on the market over time.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
