Shipping Corporation shares jump as Sensex and Nifty recover

Shipping Corporation of India shares jumped over 4% on the NSE during Monday's trading session, opening at ₹ 272 and touching an intraday high of ₹ 287.50 on 5 October. The stock movement came alongside a broader market recovery as the Sensex rose over 400 points to trade near 72,362.54 and the Nifty crossed the 22,500 mark to trade around 22,543.05.

Business Outlook

Union Minister Sarbananda Sonowal stated that the Navratna public sector undertaking is targeting a profit after tax of ₹ 2,000 crore for the current fiscal year. The company reported a standalone profit after tax of ₹ 1,352.92 crore and an operating revenue of ₹ 5,778.1 crore in the 2025-26 financial report. The firm also plans to expand its fleet by adding 30 vessels and 51 container vessels, and will procure more than 34 vessels through joint ventures with petroleum sector companies.

Market Views

Mahesh Ojha, vice president of research and business development at Kantilal Chhaganlal Securities, noted that the stock is witnessing consolidation with ₹ 260 to ₹ 255 acting as an important support zone. Gaurav Garg, head of research at Lemonn, added that the stock shows early signs of a potential trend reversal after breaking out of its short-term descending channel, with a key technical hurdle at ₹ 276 to ₹ 280.

Context

Public sector shipping companies play a critical role in managing maritime trade logistics and energy transport for the country. Strong financial performance and fleet expansion plans by state-run firms often reflect broader efforts to secure domestic supply chains against global market shifts.