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ABG Shipyard rises as ABG International acquires additional 2.45% stake

20 Feb 2013 Evaluate

ABG Shipyard is currently trading at Rs. 369.00, up by 1.15 points or 0.31% from its previous closing of Rs. 367.85 on the BSE.

The scrip opened at Rs. 369.00 and has touched a high and low of Rs. 370.90 and Rs. 368.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 440.30 on 21-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. 397.80 and Rs. 361.00 respectively. The current market cap of the company is Rs. 1873.92 crore.

The promoters holding in the company stood at 62.03% while Institutions and Non-Institutions held 10.42% and 27.55% respectively.

ABG International has bought additional 2.45 per cent stake in the country’s largest private shipbuilder ABG Shipyard for Rs 50 crore. ABG International has bought 12.50 lakh shares in the company on an average price of Rs 397.74 apiece through open market transaction.

As of December quarter, ABG International held 3.12 crore shares or 61.29 per cent stake in ABG Shipyard.

Meanwhile, Mentor Capital, which held 10.45 lakh shares or 2.05 per cent stake in ABG Shipyard, offloaded 12.48 lakh shares of the company for Rs 49.66 crore.

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