Shipping Corporation of India Bonus Issue proposal will be considered by the board of directors in their upcoming meeting which will be held on May 20, 2008. Bonus shares will be recommended to the administrative ministry i.e. ministry of shipping, road transport & highways, Govt. of India.
SCI was established on Oct. 2, 1961 by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Starting out as a marginal liner shipping company with just 19 vessels, the SCI today has metamorphosed into a giant conglomerate with substantial interests in 10 different segments of the shipping trade. SCI owns and operates about 35% of the Indian tonnage and operates in practically all areas of shipping business servicing both national and international trades.
Shares of the Shipping Coporation of India gained Rs 1.95, or 0.81%, to settle at Rs 243.55.
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