Shipping Corporation of India shares rally 9%; what is giving the stock a lift?

Shipping Corporation of India (SCI) shares were buzzing on Monday, October 5. The stock jumped as much as 9.34% to the day's high of ₹292 on the NSE.

The stock drew buying interest from market participants as the Navratna PSU and the country's largest shipping company expects to deliver a profit after tax (PAT) of ₹2,000 crore this fiscal, Union Minister Sarbananda Sonowal said on Friday.

Sonowal added the company is looking to induct 30 vessels and other 51-container vessels in the fleet.

On a standalone basis, SCI reported a PAT of ₹1,352.92 crore for FY26 on a standalone operating revenue of ₹5,778.1 crore, according to its 2025-26 financial report.

"Last year, the profit margin after tax was ₹1,326 crore. This year, in the first quarter, they have already exceeded ₹600 crore in PAT. That way, in this particular financial year, it is going to post more than ₹2,000 crore in PAT," Sonowal, who is the Minister for Ports, Shipping and Waterways, told reporters at the sidelines of SCI's 65th Foundation Day celebration event.

Currently, SCI has 58 vessels in the fleet, the minister said, and added that "we want to increase it further."

"They are joining hands with companies in the petroleum sector to create joint ventures, and through the proceeds from these JV, they are going to procure more than 34 vessels," he said.

Besides, Sonowal said, SCI is also collaborating with CONCORD and four major ports to include 51 container vessels.

Other details

Founded in 1961 as a liner shipping company with 19 vessels, SCI has grown into a diversified maritime enterprise operating 58 vessels totalling 5.26 million deadweight tonnage (DWT).

The company's operations now span crude and product tankers, bulk and container shipping, LPG and LNG carriers, offshore services, passenger and coastal transport, project cargo, ship management, and shipbuilding consultancy.

"SCI is one of the clearest examples of India building its own strength at sea. As India works to become a top shipbuilding nation under Maritime Amrit Kaal Vision 2047, SCI's fleet, its people and its partnerships will be central to that mission," Sonowal said.

Highlighting the company's role in safeguarding India's energy and trade security, specifically its performance during the recent Strait of Hormuz crisis, he called on SCI to help advance the government's Viksit Bharat and Atmanirbhar Bharat goals, framing a stronger national fleet as central to India's ambition of becoming a top shipbuilding and ship-owning nation by 2047.

The company's growth over these decades shows what Indian enterprise can achieve when backed by national resolve, the minister said, adding that as SCI expands its fleet and deepens its partnerships, it strengthens not just one company, but India's entire shipbuilding ambition, and carries us forward, mile by mile, toward the goal of a Viksit Bharat.

SCI chairman and managing director BK Tyagi, in his address, outlined the company's plans for the years ahead, reaffirming its commitment to building a larger, modern and globally competitive fleet in support of the national push to expand India's shipping capacity and tonnage.

SCI share price trend

Data show that the stock has declined 1.36% over the past 30 days, rallied nearly 25% over the past six months, gained over 26% year-to-date, and advanced more than 29% over the past one year.