Bharati Shipyard promoters hike stake by 4.34%

Bharati Shipyard today said two of its promoters had increased their stake in the firm by 4.34%.

In a note to the Bombay Stock Exchange (BSE), Bharati said two promoters - Vijay Kumar and Prakash Kapoor - have hiked their respective stake in the company to 18.06% each.

Kumar and Kapoor held 15.89% stake each in Bharati Shipyard previously. They increased their stake by acquiring 6.9 lakh shares each through preferential allotment.

Promoters were holding 44.47% stake in Bharati Shipyard as on March-end.

Recording an increase of 1.81% over the previous day, the scrip of the company today closed at Rs 129.65 on the BSE.