Bharati Shipyard is currently trading at Rs. 72.55, up by 4.10 points or 5.99% from its previous closing of Rs. 68.45 on the BSE.
The scrip opened at Rs. 71.05 and has touched a high and low of Rs. 73.70 and Rs. 70.20 respectively. So far 97,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 223.05 on 04-Jan-2011 and a 52 week low of Rs. 65.15 on 22-Dec-2011.
Last one week high and low of the scrip stood at Rs. 73.70 and Rs. 65.15 respectively. The current market cap of the company is Rs. 219.00 crore.
The promoters holding in the company stood at 46.88% while Institutions and Non-Institutions held 12.06% and 41.06% respectively.
Bharati Shipyard has received its board’s approval for Rs 2,854-crore corporate debt restructuring (CDR) programme. The debt restructuring will help the company to optimise costs and resources in the time to come.
At present, the company’s total debt stands at Rs 3,250 crore. The restructuring pertains to Term/Working Capital debt. The company, which is in advanced stages of completion of its two greenfield shipyards at Dabhol and Mangalore, said it has Rs 6,800 crore order book which would be executed by 2014.
Bharati Shipyard is involved in the ship and rig building activities. Over the years, BSL upgraded itself to build tugs and sophisticated support vessels, with the latest being jack-up rigs, catering to the offshore industry. During FY11, BSL (through its subsidiaries) has acquired 51% equity stake in Tebma Shipyard limited for Rs 75.75 crore.
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