Pipavav-Mazagaon Dock JV on the rocks, stock falls 4%

Moneycontrol Bureau

Pipavav Shipyard fell 4% at Rs 78.45 on the Bombay Stock Exchange as its much celebrated 50:50 joint venture valued at Rs one lakh crore with government-owned warship building company Mazagaon Dock Ltd (MDL) has been put on hold.

The ministry of defence (MoD), which has pressed the pause button, has also decided to formulate a policy for partnerships between defence shipyards and private shipbuilders.

The MoD has been prompted to take this step on complaints it received from some private shipyards who said that the entire process of forming a JV lacked transparency Hence the ministry wants to examine and fully settle the issue before the JV moves ahead.

Meanwhile, have a look at the share price movement of Pipavav in the past one year.

Company: Pipavav Shipyard
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	81.65	77.90	-3.75	-4.59
5-Days	85.35	77.90	-7.45	-8.73
7-Days	84.70	77.90	-6.80	-8.03
15-Days	91.00	77.90	-13.10	-14.40
1-Month	65.35	77.90	12.55	19.20
3-Month	76.70	77.90	1.20	1.56
6-Month	78.20	77.90	-0.30	-0.38
9-Month	81.75	77.90	-3.85	-4.71
1-Year	100.10	77.90	-22.20	-22.18