Shipping Corporation of India Land and Assets Limited (SCILAL), a demerged entity of Shipping Corporation of India (SCI), made its debut on the Bombay Stock Exchange (BSE) on Monday, March 19 under the trade category T2T. According to reports, SCILAL received final listing and trading approval for listing its 46 crore shares of Rs 10 each from the BSE and NSE.
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Stocks can only be traded on a delivery basis under the T2T (trade-to-trade) category. This means that when one buys T2T stocks, an investor or trader must pay the full amount for the stock and intra-day is not allowed by design.
"The listing of SCILAL is an important day for us...Now two companies have been formed, the non-core assets of the SCI will become the core assets of this company...Maritime training will be given," said Secretary of the Ministry of Ports, Shipping and Waterways (MoPSW), T K Ramachandran on new listing of SCILAL.