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ABG Shipyard has dipped 5% to Rs 243 on BSE after the denied the stake sale report and said that no such negotiations were taking place. The stock opened at Rs 252 and touched a low of Rs 240 so far.
On Tuesday, March 10, 2015, shares of ABG Shipyard had soared 13% on back of heavy volumes on media reports that L&T in race to buy ABG Shipyard stake.
“With reference to the news item appearing in the media on March10, 2015 titled "L&T in race to buy ABG Shipyard stake", ABG Shipyard Ltd has clarified to BSE that no such negotiations were taking place,” the company said in a regulatory filing.
“Company is not aware of any information that has to be announced to the Exchanges which could explain the aforesaid movement in the trading and that which is required to be disclosed to the stock exchanges as per Clause 36 of the Listing Agreement,” it added.
Meanwhile, in past one month, the stock had rallied 26% compared with 1.4% fall in the benchmark S&P BSE Sensex till yesterday.
On Tuesday, March 10, 2015, shares of ABG Shipyard had soared 13% on back of heavy volumes on media reports that L&T in race to buy ABG Shipyard stake.
“With reference to the news item appearing in the media on March10, 2015 titled "L&T in race to buy ABG Shipyard stake", ABG Shipyard Ltd has clarified to BSE that no such negotiations were taking place,” the company said in a regulatory filing.
“Company is not aware of any information that has to be announced to the Exchanges which could explain the aforesaid movement in the trading and that which is required to be disclosed to the stock exchanges as per Clause 36 of the Listing Agreement,” it added.
Meanwhile, in past one month, the stock had rallied 26% compared with 1.4% fall in the benchmark S&P BSE Sensex till yesterday.
