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ABG Shipyard trades in green on the BSE

04 Jan 2013 Evaluate

ABG Shipyard is currently trading at Rs. 380.00, up by 6.10 points or 1.63% from its previous closing of Rs. 373.90 on the BSE.

The scrip opened at Rs. 375.00 and has touched a high and low of Rs. 382.75 and Rs. 373.05 respectively. So far 11340 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 463.20 on 16-Feb-2012 and a 52 week low of Rs. 295.95 on 26-Jul-2012.

Last one week high and low of the scrip stood at Rs. 377.00 and Rs. 359.10 respectively. The current market cap of the company is Rs. 1925.35 crore.

The promoters holding in the company stood at 62.03% while Institutions and Non-Institutions held 7.80% and 30.17% respectively.

Credit rating agency, CARE has revised ‘BBB+’ ratings of ABG Shipyard’s long-term bank facilities worth Rs 1,702.56 crore to ‘BBB-’. The rating agency has also revised ‘BBB+/ A3+’ rating of company’s long-term/short term bank facilities worth Rs 8600.00 crore to ‘BBB-/A3’.

The company has received the said rating on the back of its experienced management and track record in the shipbuilding industry and strong and diversified order book providing revenue visibility. However, the ratings continue to be constrained by significant amount of corporate guarantees provided to the group companies and delay in receipt of subsidy thereby straining the operating cycle.

ABG Shipyard is engaged in the business of carrying shipbuilding and ship repair business. The company has emerged as the largest private sector shipbuilding yard in India with satisfied customer base all around the world.

 

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