 "ABG Shipyard rallies on stake buy by DB International")
ABG Shipyard has rallied 8% to Rs 250, extending its previous day’s 15% surge on NSE, after DB International (Asia) acquired nearly 2% stake in the company from open market on Wednesday.
On February 25, DB International (Asia), a Singapore-based fund bought 950,000 equity shares representing 1.77% stake in the company for total consideration of Rs 21.75 crore, the stock exchanges data shows.
DB International (Asia) purchased 660,000 shares of ABG Shipyard at Rs 229.41 per share in a block deal on NSE and 290,000 shares at Rs 228.07 per share on BSE, the block deal data shows.
The stock opened at Rs 236 and touched a high of Rs 257 on NSE. The trading volumes on the counter more than doubled with a combined 2.96 million shares changed hands till 0949 hours on NSE and BSE.
On February 25, DB International (Asia), a Singapore-based fund bought 950,000 equity shares representing 1.77% stake in the company for total consideration of Rs 21.75 crore, the stock exchanges data shows.
DB International (Asia) purchased 660,000 shares of ABG Shipyard at Rs 229.41 per share in a block deal on NSE and 290,000 shares at Rs 228.07 per share on BSE, the block deal data shows.
The stock opened at Rs 236 and touched a high of Rs 257 on NSE. The trading volumes on the counter more than doubled with a combined 2.96 million shares changed hands till 0949 hours on NSE and BSE.
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