Shipping Corporation of India Ltd’s (SCI) shares rose 6% on November 22 after CNBC-TV18 reported that three new bills regarding shipping sector will be introduced in Winter Session of Parliament, which will start on November 25.
The government has listed 15 bills, including the Merchant Shipping Bill, Coastal Shipping Bill and the Indian Ports Bill, for the session.
The Merchant Shipping Bill, also a new draft law planned by the government, seeks to ensure compliance with India’s obligation under maritime treaties to which New Delhi is a party.
The Coastal Shipping Bill, 2024 will remove the requirement for Indian-flagged vessels to acquire a general trading licence to operate on coastal waters once it gets Parliament nod.
The market cap of the stock is Rs 10,100 crore and its 52-week high is Rs 384.2 and its 52-week high is Rs 131.7.
The proposed Indian Ports Bill, 2023, to replace the Indian Ports Act, 1908, seeks to empower the Maritime States Development Council (MSDC) and promote integrated planning between states and Centre with respect to port development.