The government's move to slash corporate tax rates for domestic companies has triggered a wave of optimism in Indian stock market, therefore, investors currently have a golden opportunity to buy Shipping Corporation of India (SCI) share, according to Zee Business report. As the Central government has recently spared mammoth fund worth Rs 1.5 lakh crore, the same is likely to be compensated through strategic disinvestment of Public Sector Units. Along with BPCL and Concor in the PSU list, the SCI is another probable, the report said.

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Of late, the PSU stocks have received traders' attention, and of these companies, Shipping Corporation of India (SCI) also holds a significance with 64% of the government stake. In terms of value, the company has a fleet of 62 ships with a market cap of only Rs 1680 cr, according to the report.

Currently, the company controls 1/3rd of the country's tonnage, and is also the cheapest shipping firm in the world. The SCI has also managed to decrease its one-third debt in the last 4 years, said the report, adding that from its book value of Rs 152, it has come down to 77%, and after witnessing 52 weeks high, it is currently 32% down.  

Looking at tensions in the Middle East countries, the freight rates are expected to soar in the coming days, therefore, the SCI holds a strategic value. Looking at these strong parameters of SCI, the Zee Business has included the company with BPCL and Concor for the government's best bet for strategic divestment.

Notably, SCI’s owned fleet includes Bulk carriers, crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, Phosphoric Acid / Chemical carriers, LPG / Ammonia carriers and Offshore Supply Vessels. Sailing through for nearly five decades, the company today has a significant presence on the global maritime trade map.

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Over the years, SCI has been a lifeline for the country in times of emergency and distress, by ensuring continued and uninterrupted supply of crude oil. The government has conferred “Navratna” status to SCI on August 1, 2008, enhancing autonomy and delegation of powers to the company towards capital expenditure, formation of Joint Ventures, mergers, etc. The SCI possesses all the ingredients essential for emerging as a truly world class international shipping company.