Bharati Shipyard up 10% on open offer buzz

MUMBAI: Shares of Bharati Shipyard surged nearly 10 per cent after the shipbuilder announced its plans to make an open offer for acquisition of additional shares of Great Offshore of upto 20 per cent of its paid-up equity share capital.

Bharati Shipyard, which already holds 14.9 per cent in Great Offshore, will acquire another 20 percent through its unit, Natural Power Ventures Pvt Ltd, it said in a statement.

At 10:30 am, the stock hit the upper circuit limit of Rs 167.10, up 9.97 per cent while Great Offshore climbed 3.86 percent to Rs 378 on the BSE.