Small-cap Stock Shreeji Shipping Global Exhibits Resilience Amid Market Volatility

Shreeji Shipping Global Defies Market Weakness with 0.8% Gain

On Wednesday, 3 June, small-cap stock Shreeji Shipping Global showed resilience in the face of a declining Indian stock market, with its share price rising by 0.8%. This gain came despite the benchmark indices, Nifty 50 and Sensex, experiencing sharp selling pressure. The Nifty 50 slipped to an intraday low of 23,194, a decline of over 275 points within the first hour of trading. The BSE Sensex also came under pressure, falling to 73,659 and registering an intraday decline of nearly 1,000 points.

The weakness in Indian equities was driven by various factors, including escalating tensions in the US-Iran conflict, a surge in crude oil prices, mounting inflation concerns, and expectations of a hawkish stance from global central banks. Concerns over a potentially weak monsoon have further dampened investor sentiment, adding to the pressure on domestic markets.

However, Shreeji Shipping Global has been on a strong run, with its stock price jumping 14% in the past month, 18% in the last three months, and 35% in the last six months.

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Recent Developments

In a significant development, Shreeji Shipping Global Ltd has received approval from the Income Tax Department to opt for the Tonnage Tax Scheme (TTS) under Section 115VP(1) of Chapter XII-G of the Income-tax Act, 1961, for its eligible qualifying inland vessels engaged in shipping operations. The approval is effective from Financial Year 2025-26 (Assessment Year 2026-27) and will remain valid up to Financial Year 2034-35 or any other applicable date as per law, whichever is earlier, subject to compliance with the applicable provisions of the Income-tax Act, 1961 and the rules framed thereunder.

This approval marks an important milestone for the company, as it is expected to enhance long-term tax visibility and improve tax efficiency for its eligible shipping operations. The Tonnage Tax Scheme determines tax liability based on the net tonnage, or carrying capacity, of vessels rather than actual profits, resulting in predictable and linked tax outflows to fleet size.

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Shreeji Shipping entered into a Strategic Port Handling Agreement with Karanja Terminal & Logistics Private Limited, securing exclusive rights to handle dry bulk and liquid cargo at a dedicated 200-metre waterfront facility at Karanja Creek in Maharashtra's Raigad district. Operations are expected to commence by the end of March 2026.

Founded in 1995, Shreeji Shipping Global provides integrated shipping and logistics solutions for dry bulk cargo across India and Sri Lanka. The company operates a fleet of over 80 vessels and has built a presence in cargo handling, transportation, fleet chartering, and equipment rental services over more than three decades in the shipping and logistics sector. Promoted by Ashokkumar Haridas Lal and Jitendra Haridas Lal, the company has established itself as a prominent player in the industry.