On Monday, 7th July, shares of Shipping Corporation of India Ltd rose 4.26% to ₹230.86 on the NSE, gaining ₹9.43 from the previous close of ₹221.43. The stock advanced after the company announced the signing of a Memorandum of Agreement (MoA) for acquiring two Very Large Gas Carriers (VLGCs) to strengthen its fleet.
According to a regulatory filing dated 4th July, the company executed the MoA as part of its business expansion strategy and to augment its tonnage capacity. The two second-hand VLGCs, each with a cargo-carrying capacity of approximately 82,000 cubic meters (CBM), are expected to join SCI’s fleet during the current quarter of FY 2025–26.
The company highlighted that this acquisition aligns with its long-term growth plans and enhances its position in the global gas transportation segment. The deal was formalized on 4th July 2025 at 17:59 hours, and the company has notified both BSE and NSE about the development.
SCI, a Navratna PSU, continues to play a pivotal role in India’s maritime logistics ecosystem and has been actively expanding its fleet across various shipping segments.
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