Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Shipping Corporation of India Land and
Assets (SCILAL), a demerged entity of Shipping Corporation of India (SCI), will
debut exchanges on March 19, 2024 under the T2T category. According to reports, SCILAL received
final listing and trading approval for listing its 46 crore shares of Rs 10
each from the BSE and NSE.
Under the
T2T (trade-to-trade) category, stocks can only be traded on a delivery basis.
This means that when one buys T2T stocks, an investor or trader is required to
pay the full amount for the stock and intra-day is not allowed by design.
SCILAL was
formed in November 2021 to hold the non-core assets of SCI, which falls under
the Ministry of Ports, Shipping, and Waterways. As part of its strategic sale
process, the government hived off the real-estate assets of SCI - shipping
house, a 19-storey building, and maritime training institute, both in Mumbai,
and certain other non-core assets of SCILAL.
The value
of SCILAL's non-core assets stood at Rs 2,392 crore as on March 31,
2022, balance sheet data showed. The demerger of SCI and SCILAL into
separate entities was approved by the Ministry of Corporate Affairs in February
2023.
SCILAL's total income rose 34 percent
year-on-year (YoY) to Rs 256 crore in Q3FY24 from Rs 190 crore in Q3FY23.
Profit, on the other hand, was flat at Rs 151 crore from Rs 152 crore in the
year-ago period.
Meanwhile,
the total expenses of SCILAL declined 21 percent YoY to Rs 75 crore in Q3FY24,
as against Rs 95 crore in the year-ago period.
