The Bharati Shipyard (Bharati) scrip surged 5.4 per cent to Rs 84.75 after the founder of Great Offshore pledged another 2.15 per cent stake with Advitiya Urja, a wholly-owned subsidiary of Bharati. This transaction takes the total amount of Great Offshore promoter’s shares pledged with Bharati to 14.87 per cent, triggering talk of a likely open offer.
The promoter has pledged shares with Bharati for a loan of about Rs 200 crore. The stock made an intraday high of Rs 88.40 and a low of Rs 81, with trading volumes of 4.26 lakh shares (about 3.7 times its two-week average).
