Buy Shipping Corporation of India, target price Rs 144: HDFC Securities

HDFC Securities has buy call on Shipping Corporation of India Ltd. with a target price of Rs 144. The current market price of Shipping Corporation of India Ltd. is Rs 139.4.

Time period given by analyst is 2 weeks when Shipping Corporation of India Ltd. price can reach defined target.
Shipping Corporation of India Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 6476.94 Crore) operating in Shipping sector.


Shipping Corporation of India Ltd. key Products/Revenue Segments include Freight, Charter Hire, Demurrage, Contract Revenue and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1048.47 Crore, up 16.40 % from last quarter Total Income of Rs 900.73 Crore and down -11.03 % from last year same quarter Total Income of Rs 1178.43 Crore. Company reported net profit after tax of Rs 145.45 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 63.7 per cent stake in the company as of June 30, 2021, while FIIs held 1 per cent, DIIs 10.4 per cent and public & others 24.7 per cent.