Technical analyst Vijay Bhambwani has maintained 'hold' rating on Shipping Corporation Of India Limited (SCI) stock to achieve a long-term target that lies between Rs 150-160.

Today, the stock of the company opened at Rs 106.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 202.50 and a low of Rs 100 on BSE.

Current EPS & P/E ratio stood at 15.05 and 7.10 respectively.

Shipping Corporation of India is all set to get hold of 110 vessels of 5.21 million gross tonnage (GT) at an approximated price of Rs 276.68 billion by 2010.

Among these vessels, the company is expected to place orders for 26 vessels by the coming fiscal 2011-12.

Shipping Minister G K Vasan made this declaration.

The minister added that the acquirement of the vessels would take the company's overall tonnage to around 7.21 million GT by the next ten years.

SCI declared an increase of 40.74% in its net profit for the three month period ended Dec 2010.

SCI has recorded a net profit of Rs 1,230.60 million for the period as against Rs 874.40 million posted during the same quarter ended Dec 2009.

The company's total income surged slightly by 3.77% y-o-y to Rs 10,193.10 million for the quarter ended December 2010.