Reliance Defence has expressed its interest in buying 'agreed assets' of ABG Shipyard but it is not interested in buying equity stake in ABG.
After invocation of SDR (Strategic Debt Restructuring) in October last year, a consortium of 22-lenders took control of 51 percent stake in the company, which has loan dues worth Rs 16,400 crore.
Asia's oldest bourse BSE today said it will suspend trading in securities of four companies, including ABG Shipyard and Mandhana Industries, from March 27 as they failed to comply with certain listing regulations.
Bharti Airtel | Idea Cellular | Hindustan Zinc | IDFC | Reliance Capital | Mercator | Panacea Biotec | ICICI Prudential | ABG Shipyard | Cadila Healthcare and Capital First are stocks, which are in the news today.
Amid reports that Reliance Defence, Shapoorji Pallonji Group and the UK's Liberty House Group have shown interest in buying ABG Shipyard, the debt-ridden company today said it is in discussions with various firms which may be prospective investor.
Lenders and promoters have kick-started the bid process to sell majority stake in the debt-laden ABG Shipyard, reports CNBC-TV18 quoting sources.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have - BHEL, ITC, Havells, Garden Silk, Endurance Tech, ABG Shipyard, Cox & Kings and IGL.
Here are a few top buzzing midcap stocks picked-up by CNBC-TV18's analysts in trade today -- Bharat Forge, Adani Transmission, Sharda Cropchem, ABG Shipyard, and Vardhman Acrylics.
Lenders to ABG Shipyard have become majority shareholders in the company despite failure to invoke strategic debt restructuring (SDR) where lenders can take 51 percent control, reports CNBC-TV18.
Mitesh Thacker of miteshthacker.com is of the view that one may buy Oriental Bank of Commerce, ABG Shipyard and Godrej Industries.
Some of the stocks that should be on your radar are: IDFC Bank, DCB Bank, Torrent Power, Hindustan Unilever, IDBI Bank, Mandhana Industries, ABG Shipyard, Hero Motocorp, Tata Steel.
M&M | Syngene International | Inox Leisure | Raymond | Pratibha Industries | Castrol | IOC | Jyoti Structures | Maruti Suzuki | UPL | Godrej Properties | Yuken India | Rollatainers | ABG Shipyard | Everonn Education | Unity Infra and Viaan Industries are stocks, which are in the news today.
The lenders have written to the RBI to give them more time to turn the company's debt into equity citing the fact that there are legal restrictions.
Mitesh Thacker of miteshthacker.com is of the view that one can buy MRF and sell Coal India.
Lenders of ABG Shipyard have written to the Reserve Bank of India seeking more time for dispensation of strategic debt restructuring case, according to people close to the development, reports CNBC-TV18's Ritu Singh.
Rajat Bose of rajatkbose.com is of the view that one may sell ABG Shipyard.
The Board has approved the Strategic Debt Restructuring (SDR) invoked by CDR Lenders, it said in a regulatory filing.
SP Tulsian of sptulsian.com has a negative view on Uttam Galva and recommends exiting the stock.
As per March 2016 shareholding pattern, promoter and promoter group held 38.57 percent stake (2.08 crore equity shares) in the company. Out of which, 2.07 crore shares have been pledged.
The new limits, which ensure that stock prices do not go up or down beyond a level during a trading session, will be effective from tomorrow.
Sharmila Joshi of sharmilajoshi.com advises exiting ABG Shipyard.
Here are a few stocks picked up by CNBC-TV18's analysts to keep on your radar for trade today.
ABG Shipyard also said that it board has accepted the resignation of company Managing Director and CEO Syed Abdi.
Sun Pharma | SBI | Novartis India | RPG Life Sciences | HT Media | GMR Infra | DB Corp | ABG Shipyard | Alok Industries | Torrent Pharma | BPCL | United Spirits | Power Grid and Jet Airways are stocks, which are in the news today.
HSBC case running in Bombay Hugh Court has been the major hindrance to the deal, where the HC has barred Alok Industries from stake sale or equity infusion until a petition filed by HSBC is settled.