Shares of two companies engaged in ship building business rose by 1.45% to 1.74% at 12:47 IST on BSE after the Finance Minister Arun Jaitley said that government will announce new ship building policy this fiscal.
Meanwhile, the S&P BSE Sensex was down 98.48 points or 0.39% at 25,346.33
Pipavav Defence and Offshore Engineering Company gained 1.74%. Bharati Shipyard rose 1.45%. ABG Shipyard fell 2.07%.
While presenting the final Union Budget for 2014-15 in Lok Sabha today, 10 July 2014, Finance Minister Arun Jaitley said that the government will announce new ship building policy this fiscal. The Finance Minister said that 16 new port projects will be awarded and Rs 11635 crore will be allocated to develop existing ports & harbours.
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