Navratna public sector undertaking (PSU) Shipping Corporation’s share price surged more than 10% in intraday trade on Friday, May 16, ahead of the company’s Q4 results and the dividend announcement.
Shipping Corporation Board Meeting details
Shipping Corporation of India on May 8, 2025, intimated the exchanges about the board meeting for approving the audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, and also for dividend consideration. The Navratna PSU informed exchanges that the board meeting will be held on Friday, May 16.
“… we hereby notify that a Meeting of the Board of Directors of The Shipping Corporation of India Limited is scheduled to be held on Friday, 16.05.2025, inter alia, to consider and approve the audited standalone and consolidated financial results of the company for the quarter and financial year ended on 31.03.2025; and consider recommendation of final dividend on equity shares for Financial Year 2024-25, if any,” the company said in a filing.
Also in accordance with the code of conduct norms laid down by exchange regulators, Shipping Corp said that “SCI Code of Conduct for Prohibition of Insider Trading” will be in effect and the trading window has already been closed from April 1, 2024, and shall remain closed up to forty eight (48) hours after declaration of financial results of the results.
Shipping Corporation share price movement
Navratna PSU Shipping Corporation’s share price opened at ₹174.85 on the BSE on Friday, up almost 1.15% from the previous day’s closing price of ₹172.85. The stock thereafter gained further to ₹190.50, marking gains of more than 10% during the intraday trade.
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