ABG Shipyard plunges a whopping 15%

Promoters may have to give up control if they fail to bring in investment, as per a CNBC TV18 report.

May 06, 2016 11:05 IST India Infoline News Service

ABG Shipyard Ltd was lower by 15% at Rs. 32. Promoters may have to give up control if they fail to attract investors. Lenders are likely to invite public bids to acquire majority stake in CO.  ABG owes Rs.11,000cr to a consortium of 22 Banks led by ICICI Bank, as per a CNBC TV18 report.
The scrip opened at Rs. 38.5 and has touched a high and low of Rs. 38.5 and Rs. 31.4 respectively. So far 7594350(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 206.94 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 210.75 on 24-Jul-2015 and a 52 week low of Rs. 38.3 on 05-May-2016. Last one week high and low of the scrip stood at Rs. 48 and Rs. 38.3 respectively.
The promoters holding in the company stood at 33.26 % while Institutions and Non-Institutions held 11 % and 55.74 % respectively.
The stock is currently trading below its 200 DMA.

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