ABG Shipyard, one of the largest shipbuilding companies in India, witnessed a sharp rise in share price on Friday after the buzz of news reports that the company is in the final stage of selling a majority stake.
According to media reports, ABG Shipyard is close to signing a deal with Germany-based Privinvest Holding to sell up to 49% stake in the company.
Shares of the company are trading at Rs 182.45, up Rs 15.2, or 9.09% at the Bombay Stock Exchange (BSE) on Friday at 10:51 a.m.
Total volume of shares traded on the bourses today was higher by 3,238.32% to 2,164,299 compared with 22-day average volume of 64,832.