Pipavav Defence gains on raising Composite cap of FDI in defence to 49%

10 Jul 2014

Finance Minister in his budget has raised Composite cap of FDI in defence to 49%.

Pipavav Defence and Offshore Engineering Company is currently trading at Rs 65.50, up by 2.15 points or 3.39% from its previous closing of Rs. 63.35 on the BSE.

The scrip opened at Rs. 64.50 and has touched a high and low of Rs. 66.50 and Rs. 61.25 respectively. So far 891360 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 73.90 on 06-Jun-2014 and a 52 week low of Rs. 30.55 on 04-Feb-2014.

Last one week high and low of the scrip stood at Rs. 71.40 and Rs. 63.35 respectively. The current market cap of the company is Rs. 4862.64 crore.

The promoters holding in the company stood at 44.52 % while Institutions and Non-Institutions held 17.27 % and 38.21 % respectively.

Pipavav Defence and Offshore Engineering Company is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit spread over around 95 hectares of land and another export oriented unit (EOU) spread over around 103.92 hectares of land.

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