Latest news with #SCI
Sharjah 24
2 days ago
- General
- Sharjah 24
Saqr Al Qasimi: Gaza central to UAE's humanitarian efforts
UAE continues to lead relief efforts Amid the suffering, UAE-led humanitarian initiatives have played a vital role. Sharjah Charity International (SCI) has been at the forefront through the 'Tarahum for Gaza' campaign and 'Gallant Knight 3' operation, both under the directives of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, affirming the country's enduring humanitarian commitment. Sharjah Charity's response In conjunction with World Refugee Day on 20 June, Sheikh Saqr bin Mohammed Al Qasimi, Chairman of the Sharjah Charity International (SCI), reiterated the religious and humanitarian duty to support Gaza. He described the organisation as a key contributor to the UAE's broader efforts to aid those affected and restore life in the region. Over 116,000 support packages delivered Sheikh Saqr stated that the charity had implemented a wide range of relief projects, delivering around 116,000 diverse aid packages. These included over 32,000 food parcels distributed to displaced families and 10,000 blankets and heavy garments to help residents survive winter without heating. Supporting children amid crisis The charity also addressed children's urgent needs by supplying 1,728 packs of baby formula, a product absent from local markets. Additionally, the charity distributed 3,000 fully stocked school bags to children returning to education under challenging circumstances. Water relief and infrastructure support The charity tackled water shortages by operating water tankers and restoring damaged wells. Recently, it launched a fundraising drive to dig 12 new wells, expected to benefit more than 312,000 people across Gaza. Food security through field kitchens and bakeries Efforts to ensure food security included running 20 field kitchens serving daily meals to approximately 45,000 people and operating 10 bakeries producing bread for nearly 9,500 beneficiaries, addressing the acute bread shortage. UAE's global humanitarian vision Sheikh Saqr affirmed that these efforts reflect the UAE's broader commitment to immediate relief and long-term support in crisis zones. He noted continued coordination with the Ministry of Foreign Affairs and international partners to expand operations and meet urgent needs. Call to sustain solidarity with Gaza He urged ongoing support for Gaza-related initiatives, emphasising that the aid carries not just material relief but also messages of hope and solidarity from the UAE's people. The 'Tarahum for Gaza' campaign and the 'Gallant Knight 3' operation stand as enduring symbols of meaningful humanitarian action.
Economic Times
4 days ago
- Business
- Economic Times
Pick up defence stocks for long term; 2 shipping stocks to buy: Neeraj Dewan
Neeraj Dewan, Market Expert is optimistic about the long-term prospects of the defence sector. Budget allocations and export potential will drive growth. He suggests that while some consolidation may occur in the short term, stocks like Garden Reach and Mazagon Dock are good long-term investments. Dewan advises caution on SCI and Cochin Shipyard due to potential geopolitical impacts. ADVERTISEMENT Would you recommend betting afresh into BEL, HAL, or any other defence stock? Neeraj Dewan: If someone is a long-term investor, even after the run-up, defence is one space where there are going to be budget allocation expenditure, there can be export opportunities, and so they will continue to be strong even in the longer term. Shorter term, definitely because in the last couple of months the stocks have run up a lot and some consolidation may happen. But for a long-term play even now one can pick up these stocks and stay invested in them for a longer term. Even if you take a look at some subsectors inside defence, let us talk about some of these shipping companies. A lot of them have seen a runup once again in the last couple of trading sessions. Given the kind of surge that we have seen in a couple of these names like SCI, Garden Reach, Cochin Shipyard, would you still be advising a buy in all of these stocks? Neeraj Dewan: I am still positive on companies like Garden Reach or Mazagon Dock. SCI can be a move because of the prices going up because of the Iran-Israel clashes, so they may be impacted. Suppose that is settled and there is a truce there, you may get some reaction on the downside from SCI. So, I am not positive on stocks like SCI or even Cochin Shipyard but something like a Mazagon Dock or Garden Reach are good long-term plays. What is your analysis on Biocon? I do not know how closely you track this one because there has been a lot of easing in terms of regulatory hurdles. Now, there is a sizable fundraising as well. The next big overhang seems to be succession, but until then, everything seems to be working up. Neeraj Dewan: Actually, there has been a lot of news flow around the succession issue also and whether there can be some stake sale or not. So, there were a lot of speculations in the stock earlier. And now there is this QIP. There will be interest in seeing who is going to invest in the QIP and that will keep the stock positive. But in the medium-term, what happens is that once you get this kind of a supply in the market, the big investors will invest into the stock for the long term and there would not be any huge follow-up demand coming in. So, over the medium-term, the stock may not give that kind of a move, but this kind of inflow into the company for a longer term will do well and the stock should do well. Performance on the numbers front has not been that great lately, and that also needs to improve going ahead. If that improves with this kind of a capital coming in, over the long term, the stock should do well. ADVERTISEMENT What is your take on Asian Paints? Reliance has offloaded its entire stake in Asian Paints. Does this change investor perception about the stock now that Reliance has offloaded? Asian Paints has been in the middle of the competition and the price war in paints. Do you believe it is a good time to see any run-up or is it going to be sluggish going ahead? Neeraj Dewan: Some more consolidation will stay as far as Asian Paints is concerned. There can be some short-term up move because the stock has been down and stayed at these levels for quite some time. So, someone who is a long-term investor and has seen Asian Paints doing well over the years may take this opportunity to add up some to the portfolio because majority of the portfolios are holding on to the Asian Paints stock because over the longer term they made good money there. So, they may like to add some more. However, I do not see any meaningful upside happening in Asian Paints over the medium-term. So, a short-term move may happen positively but over the medium term, there can still be a sluggish movement and some more consolidation in Asian Paints. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
4 days ago
- Business
- Business Standard
SCI, GE Shipping in focus as Baltic Dry Index up 47% in 1-mth; time to buy?
The Baltic Dry Index now quotes at a 8-month high. Technical charts hint at a potential 36 per cent upside for select shipping stocks like SCI, Dredging and Seamec. Details here Rex Cano Mumbai Listen to This Article Shares of shipping related companies are likely to be in focus as the Baltic Dry Index - the shipping and trade index - has surged to a 8-month high at 1,968. The index has rallied as much as 47 per cent from levels of 1,338 in the last one month. What is the Baltic Dry Index & its impact? The Baltic Dry Index (BDI) represents the average price for shipping dry bulk materials via sea routes, and is often considered as a leading indicator of economic activity for it reflects the supply and demand for raw materials
Economic Times
4 days ago
- Business
- Economic Times
SCI shares slide 6% as profit-taking, Middle East truce hopes cool shipping rally
Shares of Shipping Corporation of India declined following a rally. Investors booked profits amid hopes of a Middle East truce. This tempered fears of prolonged shipping disruptions. Great Eastern Shipping Company shares also decreased. Tensions in the Middle East previously fueled investor demand for shipping stocks. India relies heavily on Gulf nations for crude oil imports. Tired of too many ads? Remove Ads Profit-booking follows Middle East-driven rally Tired of too many ads? Remove Ads Truce hopes cool panic trade Implications for India Shares of Shipping Corporation of India (SCI) fell as much as 6.1% to Rs 221 on Tuesday, reversing some of the sharp gains from the past two sessions as investors booked profits and growing optimism around a potential truce in the Middle East conflict tempered fears of prolonged disruption to global shipping downturn in SCI shares followed a near 18% rally across the last two sessions, fuelled by expectations of a surge in global tanker rates and mounting concerns over escalating tensions in the Middle East. Shares of peer Great Eastern Shipping Company also retreated, dropping 3.2% to Rs 972.70 on the BSE on Tuesday after gaining over 5% in the previous two shipping counters had seen strong investor demand last week, outpacing a broadly weaker market, after fears of global trade disruptions intensified amid renewed conflict in the Middle East. The surge came after an Israeli pre-emptive strike on Iran's nuclear facilities reportedly killed several top commanders and scientists, stoking fears that Iran might retaliate by closing or disrupting the Strait of Hormuz, a critical artery for global oil and gas appetite had risen on expectations of higher freight and tanker rates, with ships expected to reroute to avoid the volatile region. Any closure of the Strait, a narrow chokepoint handling nearly 30% of seaborne oil and 20% of global LNG, could send energy and shipping prices Tuesday, risk appetite shifted amid signs that equity markets were starting to price in a possible de-escalation. 'Optimism that a truce will be reached appears to be stronger in equity markets than elsewhere,' said Jamie McGeever, Markets Columnist at Reuters. McGeever noted that while 'gold gave back Friday's gains' and oil settled lower after last week's surge, 'equity investors may have it right' in assuming that the broader fallout might be McGeever cautioned, 'It's a very fluid situation, so investors' relief may be short-lived.' He added, 'Unless there is a real adverse oil price shock, it will probably be a similar story this time around, although spiking inflation would be problematic for central banks.'JP Morgan echoed a more measured view, stating that while the Strait of Hormuz is a vital global shipping chokepoint, 'The closure of Hormuz is a low-risk event as Iran would be damaging its own position, both economically and politically, by irritating its main customer.'For India, a prolonged disruption in the Strait of Hormuz could be particularly costly. With over 80% of India's crude oil imports coming from Gulf nations such as Iraq, Saudi Arabia, UAE, and Kuwait, any blockade would tighten supply and likely push up crude prices and shipping that scenario could benefit domestic shipping firms like SCI and GE Shipping through a spike in tanker rates, the broader economic impact, from inflationary pressure to a rise in import costs, could weigh on the market over time.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
4 days ago
- Business
- Time of India
SCI shares slide 6% as profit-taking, Middle East truce hopes cool shipping rally
Profit-booking follows Middle East-driven rally Live Events Truce hopes cool panic trade Implications for India (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Shipping Corporation of India (SCI) fell as much as 6.1% to Rs 221 on Tuesday, reversing some of the sharp gains from the past two sessions as investors booked profits and growing optimism around a potential truce in the Middle East conflict tempered fears of prolonged disruption to global shipping downturn in SCI shares followed a near 18% rally across the last two sessions, fuelled by expectations of a surge in global tanker rates and mounting concerns over escalating tensions in the Middle East. Shares of peer Great Eastern Shipping Company also retreated, dropping 3.2% to Rs 972.70 on the BSE on Tuesday after gaining over 5% in the previous two shipping counters had seen strong investor demand last week, outpacing a broadly weaker market, after fears of global trade disruptions intensified amid renewed conflict in the Middle East. The surge came after an Israeli pre-emptive strike on Iran's nuclear facilities reportedly killed several top commanders and scientists, stoking fears that Iran might retaliate by closing or disrupting the Strait of Hormuz, a critical artery for global oil and gas appetite had risen on expectations of higher freight and tanker rates, with ships expected to reroute to avoid the volatile region. Any closure of the Strait, a narrow chokepoint handling nearly 30% of seaborne oil and 20% of global LNG, could send energy and shipping prices Tuesday, risk appetite shifted amid signs that equity markets were starting to price in a possible de-escalation. 'Optimism that a truce will be reached appears to be stronger in equity markets than elsewhere,' said Jamie McGeever, Markets Columnist at Reuters. McGeever noted that while 'gold gave back Friday's gains' and oil settled lower after last week's surge, 'equity investors may have it right' in assuming that the broader fallout might be McGeever cautioned, 'It's a very fluid situation, so investors' relief may be short-lived.' He added, 'Unless there is a real adverse oil price shock, it will probably be a similar story this time around, although spiking inflation would be problematic for central banks.'JP Morgan echoed a more measured view, stating that while the Strait of Hormuz is a vital global shipping chokepoint, 'The closure of Hormuz is a low-risk event as Iran would be damaging its own position, both economically and politically, by irritating its main customer.'For India, a prolonged disruption in the Strait of Hormuz could be particularly costly. With over 80% of India's crude oil imports coming from Gulf nations such as Iraq, Saudi Arabia, UAE, and Kuwait, any blockade would tighten supply and likely push up crude prices and shipping that scenario could benefit domestic shipping firms like SCI and GE Shipping through a spike in tanker rates, the broader economic impact, from inflationary pressure to a rise in import costs, could weigh on the market over time.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
