Volume Shocker: Bharati Shipyard

On June 1, the lenders consortium approved the Rs 5,800-crore CDR proposal

Bharati Shipyard has surged 12% to Rs 70.75 on back over three-fold jump in trading volumes. As many as a combined 330,384 shares have changed hands on the counter till early noon deals, against an average around 85,000 shares that were traded daily in past two weeks.

According to PTI reports the promoters of country's second largest private ship-builder have agreed to infuse Rs 118 crore fresh capital into the debt-laden company, as a precondition for its Rs 5,800-crore debt restructuring plan.

On June 1, the lenders consortium approved the Rs 5,800-crore corporate debt restructuring (CDR) proposal of Bharati Shipyard, the report suggests.