Market Watch : ABG Shipyard jumps 13%

Mumbai, Oct 19: ABG Shipyard Ltd is currently trading at Rs 39, up by Rs 5.45 or 16.24% from its previous closing of Rs 33.55 on the BSE. The company said in a clarification that it is exploring the possibility of strategic investors so as to improve company’s financial and operational strength. For this purpose, the company has appointed Rothschild investment banker.

The scrip opened at Rs 34.8 and has touched a high and low of Rs 39.25 and Rs 34.8 respectively. So far 6456215(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 181.27 crore.

The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 137 on 19-Oct-2015 and a 52 week low of Rs 22.85 on 24-May-2016. Last one week high and low of the scrip stood at Rs 34.35 and Rs 31.5 respectively.

The promoters holding in the company stood at 18.23 % while Institutions and Non-Institutions held 11.83 % and 69.94 % respectively.

The stock is currently trading above its 200 DMA.