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Stock Market Live Update: Shipping Corporation of India signed a memorandum of compromise with BPCL, HPCL and IOC

The Shipping Corporation of India (SCI) has signed an MoU with Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL).

Under this MoU, both companies will jointly acquire, owe, operation and manage ships. These ships will be used for coastal transportation of international trade as well as petroleum, petroleum products, petrochemicals and other hydrocarbons.