Shipping Corporation of India Surges 5.16% After MoU With Oil PSUs to Boost Fleet Capacity

Mumbai, September 22, 2025: The Shipping Corporation of India’s share price is on the rise today, September 22, 2025, after the company revealed it had entered into a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Ltd (BPCL).

As of 10:30 AM, the shares were up by 5.16%, or 11.34 points, and were trading at ₹230.93. Until now, the shares have traded within a range of ₹237.40 and ₹224.46. The current traded volume stands at 1.46 crore shares, with the market cap at ₹10,229 crore. The shares have their 52-week high at ₹274.25 (24-Sep-2024) and their 52-week low at ₹138.26 (03-Mar-2025).

Shipping Corporation of India is an Indian public sector company that operates shipping vessels for transportation services. The company was incorporated in 1961 and is headquartered in Mumbai, Maharashtra. The shares of the company are listed on NSE with the ticker symbol SCI and on BSE with the code 523598.

MoU With BPCL, HPCL, and IOCL

The rise in the share price comes after the company announced that it has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL), and Indian Oil Corporation Ltd (IOCL). The Ministry of Ports, Shipping and Waterways and the Ministry of Petroleum and Natural Gas are supporting the MoU.

The MoU details that under the contract, all the entities will jointly acquire, along with owning and managing vessels. The vessels will be used to transport petroleum, petrochemicals, and hydrocarbon cargoes. The initiative is part of the Atmanirbhar Bharat vision and is aimed at strengthening India’s energy and shipping security.

REF: https://nsearchives.nseindia.com/corporate/SCI_20092025140133_Reg_30-_MOU_signing_sd.pdf

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