ABG Shipyard up 3% on Western India Shipyard bid win
Shares of ABG Shipyard gained over 3 per cent Thursday on the company winning the bid for re-structuring Western India Shipyard.
By INDIATIMES NEWS NETWORK |
MUMBAI: Shares of ABG Shipyard gained over 3 per cent Thursday on the company winning the bid for re-structuring Western India Shipyard.
Under the scheme of arrangement, ABG can participate in the rehabilitation of Western India Shipyard and can invest when required.
The scheme also provides options for restructuring/one-time settlement of the secured lenders, including reorganisation of share capital. Consequently, ABG stands to get substantial shareholding in Western India Shipyard.
ABG will continue to provide Western India Shipyard assistance in the field of ship repairing and building.
ABG Shipyard is the largest private sector shipyard in India. The company manufactures marine ships, including bulk carriers, deck barges, interceptor boats, anchor handling supply ships, driving support ships, tugs and offshore vessels.
At 2:02 pm, the ABG Shipyard share was up 3.32 per cent at Rs 619.10 with volume traded at 37578 against two-week average of 44,218 shares.
Under the scheme of arrangement, ABG can participate in the rehabilitation of Western India Shipyard and can invest when required.
The scheme also provides options for restructuring/one-time settlement of the secured lenders, including reorganisation of share capital. Consequently, ABG stands to get substantial shareholding in Western India Shipyard.
ABG will continue to provide Western India Shipyard assistance in the field of ship repairing and building.
ABG Shipyard is the largest private sector shipyard in India. The company manufactures marine ships, including bulk carriers, deck barges, interceptor boats, anchor handling supply ships, driving support ships, tugs and offshore vessels.
At 2:02 pm, the ABG Shipyard share was up 3.32 per cent at Rs 619.10 with volume traded at 37578 against two-week average of 44,218 shares.
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