SHIPPING CORPORATION OF INDIA

correction in share price comes after a month-long rally triggered by geopolitical concerns and rising global shipping rates. Rising geopolitical tensions in the Middle East, notably between Israel and Iran, drove a spike in investor interest in shipping stocks. The Strait of Hormuz, a vital channel responsible for nearly 20% of global oil and LNG shipments, was seen as a potential chokepoint. These concerns had earlier pushed crude oil prices past the $80 per barrel mark, leading to speculation about rerouted shipping paths and boosting sentiment in shipping counters.