ABG Shipyard gains on bargain hunting

ABG Shipyard rose 3.35% to Rs 138.85 at 15:20 IST on BSE, with the stock gaining on bargain hunting after falling 10.07% in prior seven trading days.

Meanwhile, the S&P BSE Sensex was down 23.83 points or 0.09% at 26,813.37

On BSE, so far 1.86 lakh shares were traded in the counter as against average daily volume of 1.59 lakh shares in the past two weeks.

The stock hit a high of Rs 148 and a low of Rs 128 so far during the day. The stock had hit a 52-week high of Rs 308.50 on 4 June 2014. The stock had hit a 52-week low of Rs 127.15 yesterday, 3 June 2015.

The small-cap company has equity capital of Rs 53.75 crore. Face value per share is Rs 10.

Shares of ABG Shipyard had dropped 10.07% in seven trading days to settle at Rs 134.35 yesterday, 3 June 2015 from a recent high of Rs 149.40 on 25 May 2015.

ABG Shipyard reported a net loss of Rs 294.46 crore in Q3 December 2014, higher than net loss of Rs 156.08 crore in Q3 December 2013. Net sales declined 89.3% to Rs 30.56 crore in Q3 December 2014 over Q3 December 2013.

ABG Shipyard is the largest private sector shipbuilding yard in India.

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