The stock was still trading nearly 8% higher to its 52-week low of Rs 54.50
The JV, which currently holds three bulk carriers and one tanker vessel, could charter a container vessel soon
The stock dipped 9% to Rs 67 on BSE after the company reported a sharp 73% YoY decline profit at Rs 56 crore for Q1FY17,
The company is facing agitation from about 200 sailors who have gone on hunger strike since Saturday, after SCI failed to revise wages