The board of directors of Shipping Corporation of India (SCI) has suggested a bonus issue of shares in the ratio of 1:2 i.e. one bonus share for every two shares held. Since the company has immense reserves, the management has determined to use part of it to benefit the shareholders. SCI has reserves of Rs 4,817 crore as on March 31, 2007. The bonus share proposal will have to be permitted by administrative ministry, Ministry of Shipping, Road Trans port & Highways.
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