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Shares of ABG Shipyard have dipped nearly 4% to Rs 175, also its 52-week low on the NSE. According to reports, some banks have classified a few accounts of the company as a bad loan.
“ABG Shipyard, a shipbuilder which had its Rs 11,000 crore loans restructured in 2014 due to stress in business, has missed payments to some banks which have classified the account as bad loan,” the Economic Times report suggests. CLICK HERE TO READ FULL REPORT.
Meanwhile, in past two months, the stock has slipped 26% from Rs 234 on March 13, compared with 4% decline in the CNX Nifty.
The country’s largest private sector shipyard had reported a net loss of Rs 523 crore for the first nine months (April to December 2014) of the financial year 2014-15 against Rs 199 crore in the entire previous financial year 2013-14.
The stock opened at Rs 181 and has seen a combined 162,712 shares changed hands on the counter on the NSE and BSE so far. At 1207 hours, the stock was down 2.6% at Rs 177 on the NSE.
“ABG Shipyard, a shipbuilder which had its Rs 11,000 crore loans restructured in 2014 due to stress in business, has missed payments to some banks which have classified the account as bad loan,” the Economic Times report suggests. CLICK HERE TO READ FULL REPORT.
Meanwhile, in past two months, the stock has slipped 26% from Rs 234 on March 13, compared with 4% decline in the CNX Nifty.
The country’s largest private sector shipyard had reported a net loss of Rs 523 crore for the first nine months (April to December 2014) of the financial year 2014-15 against Rs 199 crore in the entire previous financial year 2013-14.
The stock opened at Rs 181 and has seen a combined 162,712 shares changed hands on the counter on the NSE and BSE so far. At 1207 hours, the stock was down 2.6% at Rs 177 on the NSE.
