Buy Shipping Corporation of India target Rs 120: Kunal Bothra

Independent analyst Kunal Bothra has buy call on Shipping Corporation of India with a target price of Rs 120.

The current market price of Shipping Corporation of India is Rs 98.35.

Time period given by analyst is intraday when Shipping Corporation of India price can reach defined target.

Kunal Bothra recommended to keep stoploss at Rs 90.

Shipping Corporation of India, incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 4581.13 Crore) operating in Shipping sector.

Shipping Corporation of India key Products/Revenue Segments include Freight which contributed Rs 2445.82 Crore to Sales Value (70.95 per cent of Total Sales), Charter Hire which contributed Rs 726.15 Crore to Sales Value (21.06 per cent of Total Sales), Demurrage which contributed Rs 146.31 Crore to Sales Value (4.24 per cent of Total Sales), Contract Revenue which contributed Rs 88.96 Crore to Sales Value (2.58 per cent of Total Sales) and Other Operating Revenue which contributed Rs 39.63 Crore to Sales Value (1.14 per cent of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2017, the company has reported a Standalone sales of Rs 864.78 Crore, down 3.67 per cent from last quarter Sales of Rs 897.73 Crore and up 4.78 per cent from last year same quarter Sales of Rs 825.29 Crore.

The company’s top management includes Capt.Anoop Kumar Sharma, Mr.Arun Balkrishnan, Mr.S V Kher, Mr.Satinder Pal Singh, Mr.Sukamal Chandra Basu, Mrs.H K Joshi, Ms.Leena Nandan.

Company has GMJ & Co as its auditors.

As on 31-03-2017, the company has a total of 465,799,010 shares outstanding.