Pipavav Defence surges on receiving approval for debt restructuring package

01 Apr 2015

Pipavav Defence and Offshore Engineering Company is currently trading at Rs. 59.20, up by 1.95 points or 3.41% from its previous closing of Rs. 57.25 on the BSE.

The scrip opened at Rs. 57.65 and has touched a high and low of Rs. 59.75 and Rs. 57.45 respectively. So far 387636 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 85.00 on 19-Feb-2015 and a 52 week low of Rs. 33.90 on 31-Mar-2014.

Last one week high and low of the scrip stood at Rs. 58.70 and Rs. 55.75 respectively. The current market cap of the company is Rs. 4288.40 crore.

The promoters holding in the company stood at 44.50 % while Institutions and Non-Institutions held 14.92 % and 40.58 % respectively.

Pipavav Defence and Offshore Engineering Company has received an approval for Corporate Debt Restructuring Package (CDR Package). The Corporate Debt Restructuring Empowered Group (CDR-EG) has approved the CDR Package for the company. In this regard, the lenders of the company and the company have entered into relevant agreements for implementation of the CDR Package.

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 and another export oriented unit (EOU).

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