Shares of ABG Shipyard have surged over 8% to Rs 181 on the Bombay Stock Exchange (BSE) after the company in a clarification with regard to media reports of stake sale said that it has received firm expression of interest from Privinvest for a strategic stake sale.
With regard to news item titled "Germany based Privinvest to buy 49 % stake in ABG shipyard via fresh equity worth 1000 cr", ABG Shipyard during market hours today, 12 June 2015, in a clarification said that it has received firm expression of Interest from Privinvest and the company is in discussion with Privinvest for a strategic stake sale.
ABG Shipyard is the largest private sector shipbuilding yard in India.
The stock opened at Rs 174 and touched a high of Rs 188 on the BSE. At 10:45AM, more than 1.5 million shares changed hands on the counter of NSE and BSE.
