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Pipavav Defence & Offshore Engineering is currently trading at Rs 60.00, up by 2.15 points or 3.72% from its previous closing of Rs 57.85 on the BSE.
The scrip opened at Rs 58.50 and has touched a high and low of Rs 61.40 and Rs 57.80 respectively. So far 579735 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 92.60 on 13-Sep-2011 and a 52 week low of Rs 50.65 on 21-Nov-2011.
Last one week high and low of the scrip stood at Rs 62.20 and Rs 50.65 respectively. The current market cap of the company is Rs 3851.64 crore.
The promoters holding in the company stood at 45.00% while Institutions and Non-Institutions held 19.04% and 35.96% respectively.
Pipavav Defence & Offshore Engineering, formerly Pipavav Shipyard, is planning to sell a 10% stake for Rs 900 crore to a foreign defence company, which will provide critical technology necessary to manufacture equipment for the armed forces. The company will issue 81.9 million shares on a preferential basis to an international strategic investor for 110 apiece.
The fresh issue of shares will take place at a 90% premium to the stock’s last closing price of 58.15. It will be the second instance when Pipavav is raising money by diluting its stake. Last week, the company issued warrants to big bull Rakesh Jhunjhunwala for 78 apiece.
Primarily, the investor will purchase 5% stake in Pipavav for Rs 385 crore, and scale it up to 10% within three months. The investor can nominate a director on the Pipavav board, and might raise its holding to 26% by March next year.
Pipavav Defence and Offshore Engineering Company is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit spread over around 95 hectares of land and another export oriented unit (EOU) spread over around 103.92 hectares of land.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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