SCI Stock Surges 12.1% on Strong Performance in Shipping Industry

Jun 18 2024 12:50 PM IST
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SCI's stock price has surged by 12.1% on June 18, 2024, thanks to the company's strong performance in the shipping industry. It has outperformed the sector by 9.52% and hit a new 52-week and all-time high of Rs.78.4. Despite high volatility, the stock has been trading above its moving averages, indicating a positive trend.

Shipping Corporation of India Land & Assets Ltd (SCI) has seen a significant increase in its stock price, gaining 12.1% on June 18, 2024. This surge in stock price has been attributed to the company's strong performance in the shipping industry.

SCI, a smallcap company in the shipping industry, has outperformed the sector by 9.52% today. The stock has been gaining for the last two days and has risen by 12.44% in this period. It also hit a new 52-week and all-time high of Rs.78.4 today, showing a strong upward trend.

The stock has been highly volatile today, with an intraday volatility of 9.93%. However, it has been trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend.

In the shipping sector, SCI has gained by 2.58%, further solidifying its position as a top performer in the industry. This strong performance has been reflected in the stock's 1-day and 1-month performance, which stands at 13.32% and 12.92%, respectively, compared to the Sensex's performance of 0.27% and 4.31%.

Overall, SCI's stock has shown a strong upward trend, outperforming the sector and the market. This can be attributed to the company's strong performance in the shipping industry, making it a top pick for investors looking for growth opportunities in the smallcap segment.
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