Mumbai: Shares of Shipping Corporation were up 16% at Rs 64 after returning to profit in the fourth quarter ended March 2014 compared to a huge loss in the corresponding quarter last financial.
The state-owned shipping major revealed a net profit of Rs 13.24 cr in it all quarter in comparison to a loss of Rs 281.44 cr in it all quarter ended March 2013.
Total income for fourth quarter increased 31.7% to 1,281.94 cr compared with 973.57 cr in the corresponding quarter last financial.
The stock opened out at Rs 59 & touched a higher of Rs 64.65 on the BSE. Over 6.1 million stocks were traded on together the stock exchanges so far.
EPC World News Bureau
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