SCI transfers shareholding in arm to GS Enterprises

Shipping Corporation of India has transferred its shareholding in SCI Forbes to GS Enterprises (an affiliate of Shapoorji Pallonji Group) on July 2 with an intention to exit the joint venture. While SCI held 50 per cent stake in SCI Forbes, Shapoorji Pallonji Group firms Forbes & Co Ltd and Sterling Investment Pvt Ltd hold 25 per cent stake, respectively. Shares of SCI closed at ₹67.4, down 1.8 per cent.