ABG Shipyard lost 6.31% to Rs 239.70 at 11:36 IST on BSE after the company denied media reports indicating that L&T is in race to buy stake in the company.
Meanwhile, the S&P BSE Sensex was up 39.68 points or 0.14% at 28,754.51
On BSE, so far 88,317 shares were traded in the counter as against average daily volume of 1.25 lakh shares in the past one quarter.
The stock hit a high of Rs 253.80 and a low of Rs 236.80 so far during the day. The stock had hit a 52-week high of Rs 310 on 2 June 2014. The stock had hit a 52-week low of Rs 188 on 9 February 2015.
The small-cap company has equity capital of Rs 53.75 crore. Face value per share is Rs 10.
Shares of ABG Shipyard had surged 13.28% to settle at Rs 255.85 yesterday, 10 March 2015, on media reports that L&T is in race to buy stake in the company. ABG Shipyard after market hours yesterday, 10 March 2015 clarified that no such negotiations were taking place.
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ABG Shipyard reported a net loss of Rs 294.46 crore in Q3 December 2014, higher than net loss of Rs 156.08 crore in Q3 December 2013. Net sales declined 89.3% to Rs 30.56 crore in Q3 December 2014 over Q3 December 2013.
ABG Shipyard is the largest private sector shipbuilding yard in India.
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