Bharati Shipyard rose 1.27% to Rs 35.95 at 9:31 IST on BSE after the company said that it allotted 26.47 lakh convertible warrants at Rs 22 each on preferential basis to Edelweiss Finance & Investments on 7 January 2016.
The announcement was made after market hours yesterday, 7 January 2016.Meanwhile, the BSE Sensex was up 168.09 points, or 0.68%, to 25,019.92.
On BSE, so far 4,120 shares were traded in the counter, compared with an average volume of 18,371 shares in the past one quarter. The stock hit a high of Rs 37 and a low of Rs 35 so far during the day. The stock hit a 52-week high of Rs 37 on 8 January 2016. The stock hit a 52-week low of Rs 13.10 on 22 June 2015.
The small-cap company has an equity capital of Rs 50.30 crore. Face value per share is Rs 10.
Bharati Shipyard said that the allotment was made pursuant to approval from the board of directors of the company. The company said it received 25% amount towards the issue price i.e. Rs 5.50 per warrant, totaling to Rs 1.45 crore from Edelweiss Finance & Investments.
Bharati Shipyard reported net loss of Rs 219.92 crore in Q2 September 2015 as against net loss of Rs 44.96 crore in Q2 September 2014. Net sales rose 42.04% to Rs 7.67 crore in Q2 September 2015 over Q2 September 2014.
Bharati Shipyard is a leading Indian private sector shipyard engaged in design and construction of sea-going, coastal, harbour, inland crafts and vessels.
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