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PSU battle: Shares of Shipping Corporation of India Limited (SCI) and Garden Reach Shipbuilders & Engineers Limited have rallied over the past seven days after the announcement of second quarter results for the financial year 2026-27.
SCI’s consolidated net profit more than doubled during the second quarter of FY27, whereas GRSE’s net profit increased by 12% on an annual basis. Out of the two maritime PSUs, Shipping Corporation of India announced an interim dividend during the quarter.
Shipping Corporation of India’s net profit increased by 205% on an annual basis to ₹577.76 crore in Q2FY27 against ₹189.16 crore reported in the year-ago period. Whereas, GRSE’s net profit jumped to ₹172 crore, up 12% from ₹154 crore reported in the year-ago period.
SCI’s net revenue surged to ₹2290.73 crore during the quarter under review, against ₹1338.87 crore reported in the year ago period. GRSE’s net revenue from operations surged to ₹1826.69 crore in Q2FY27, against ₹1677.38 crore in Q2FY26.
Shipping Corporation of India’s board of directors approved an interim dividend for the financial year 2026-27. The board declared an interim dividend of ₹4 per equity share with a face value of ₹10 each, which is 40% for FY27. The board has fixed November 16 as the record date to determine eligibility of shareholders for the payout.
SCI’s share price is showing signs of recovery after bouncing from its support zone, whereas, investors can consider fresh entry in GRSE, as per technical analysis of the two maritime PSU stocks by Virat Jagad Sr. Technical Research Analyst at Bonanza.
“Shipping Corporation of India is showing signs of recovery after bouncing from the ₹235–240 support zone and reclaiming its 20 EMA. RSI near 52 indicates improving momentum, but the stock remains below its 50, 100 and 200 EMAs, suggesting overhead resistance. The descending trendline near ₹285 remains a major hurdle. Sustaining above ₹270–276 could strengthen recovery towards ₹285–290, while ₹262 remains immediate support,” explained Jagad.
For GRSE, investors can consider fresh entry, by executing ‘buy on dips’ strategy at ₹2,160 - ₹2,205, according to Jagad, who highlights ₹2,090 as stop loss and target for ₹2,330 - ₹2,415.
“Price action has staged a base reversal off ₹1,850.00 lows, decisively reclaiming its 20 EMA
( ₹2,113.80) and testing the 50 EMA ( ₹2,203.50), while an RSI reading of 58.55 confirms strengthening bullish momentum,” according to Jagad.
SCI share price closed 0.79% higher at ₹268.75 per share on BSE with a market capitalisation of ₹12,518.35 crore on Thursday, November 12. Its share price value has surged 5.89% in two weeks, and 17% in 2026 so far.
Shares of GRSE closed 0.77% lower at ₹2209.55 per share on BSE with an MCap of ₹25,310.84 crore on Thursday, November 12. Its share price value has surged 14.94% in two weeks, but has declined 21.58% in one year. Over the last three years, the PSU stock has delivered 184% return.
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