Shipping Corporation of India Closing Bell Updates: Share Price Plunges 3.67%
Shipping Corporation of India (NSE:SCI) share price fell 3.67% to ₹292.30 today, driven by recent regulatory fines and profit-booking despite strong EPS growth.
Shipping Corporation of India (SCI) witnessed a significant sell-off on Friday, opening at ₹303.80 before quickly retreating from an intraday high of ₹307.50. The counter touched a low of ₹290.10 during the session, eventually settling at a closing LTP of ₹292.30. This marked a sharp 3.67% decline from its previous close of ₹303.45, with a total volume of 5,154,248 shares traded. This volume was notably higher than its average daily trading volume, which has been cited as approximately 1.34 million shares, suggesting strong selling pressure.
| SCI – Stock Updates as of (4:37PM, 29 May 2026) | |||
LTP ₹292.30 | Open ₹303.80 | High ₹307.50 | Low ₹290.10 |
52W High ₹0.00 | 52W Low ₹0.00 | Volume 5,154,248 | % Chg -3.67% |
Session Highlights
The trading day began with SCI opening just below its previous close, indicating early bearish sentiment. A brief attempt at recovery saw the stock hit its intraday high in the initial hours, but this momentum quickly fizzled. The mid-session was characterised by a steady decline, pushing the stock towards its intraday low. The late session saw some consolidation, with the stock closing slightly off its day's bottom, but the overall trajectory remained firmly negative, signaling a broad-based profit-booking across the counter.
Drivers & Developments
Today's sharp downturn in SCI's share price appears to be influenced by a combination of factors, including recent regulatory non-compliance issues and broader market sentiment. Yesterday, May 28, 2026, it was reported that the Shipping Corporation of India was fined ₹5.31 lakh each by both BSE and NSE for non-compliance with board composition regulations. Although the company stated that this action does not have a significant impact on its financial or operational activities, the news may have contributed to a cautious stance among investors, leading to a dip in confidence. Additionally, while Simply Wall St noted today that Shipping Corporation of India's Earnings Per Share (EPS) have been growing at 16% per year over the last three years, with EBIT margins improving from 15% to 19%, the market's immediate reaction suggests that other concerns or profit-taking overshadowed these positive fundamental indicators. Recent analyst upgrades, such as StockInvest.us moving SCI to a "Buy" candidate on May 26, 2026, were also seemingly overlooked in today's negative price action.
52-Week Context
With today's closing price of ₹292.30, SCI now sits in the mid-range of its 52-week trading band. The stock's 52-week high stands at ₹368.75, while its 52-week low is ₹195.55. Today's decline pulls the stock further away from its annual highs, reflecting a significant correction from its peak performance.
What to Watch Tomorrow
Investors will be closely monitoring any further corporate announcements regarding the board composition and potential implications. Key support levels around the ₹290 mark will be crucial to watch, with resistance anticipated near the ₹300-₹305 zone if any recovery attempts are made.
Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.
(The above story first appeared on LatestLY on May 29, 2026 04:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).