- Hot Pursuit
Pipavav Defence drops as PE investor cuts stake
Pipavav Defence and Offshore Engineering Company fell 1.66% to Rs 94.50 at 12:37 IST on BSE after a Mauritius-based private equity firm pared its stake in the firm through a bulk deal on the BSE on Thursday, 13 December 2012.
Meanwhile, the BSE Sensex was up 59.50 points or 0.31% at 19,288.76.
On BSE, 2.24 lakh shares were traded in the counter as against average daily volume of 6.418 lakh shares in the past one quarter.
The stock hit a high of Rs 95.60 and a low of Rs 94.30 so far during the day. The stock had hit a 52-week high of Rs 98.35 on 13 December 2012. The stock had hit a 52-week low of Rs 52.65 on 27 July 2012.
The stock had outperformed the market over the past one month till 13 December 2012, rising 14.54% compared with the Sensex's 3.28% rise. The scrip also outperformed the market in past one quarter, gaining 27.12% as against Sensex's 6.70% rise.
The mid-cap company has equity capital of Rs 701.20 crore. Face value per share is Rs 10.
The Mauritius based private equity (PE) firm Valiant Mauritius Partners FDI sold 90 lakh shares or 1.28% stake at Rs 95.68 per share in Pipavav Defence and Offshore Engineering Company in a bulk deal on the BSE on Thursday, 13 December 2012. Valiant Mauritius Partners FDI held 3.62% stake in Pipavav Defence and Offshore Engineering Company at end 30 September 2012.
Pipavav Defence and Offshore Engineering Company's net profit fell 10.6% to Rs 8.41 crore on 33.6% growth in net sales to Rs 600.25 crore in Q2 September 2012 over Q2 September 2011.
Pipavav Defence and Offshore Engineering Company is a leading company in the Indian Defence sector. It is involved in the business of naval shipbuilding, repair & dry-docking and has the capability to build all types of assets required by the Indian Navy and the Indian Coast Guard.
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India Infoline Research Team / 08:44, Jun 26, 2015
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today. The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower.