Pipavav-Mazagon JV hits roadblock; stock sinks 3.5%

Pipavav Shipyard touched an intraday high of Rs 89.30 and an intraday low of Rs 85. At 09:18 hrs the share was quoting at Rs 86.50, down Rs 3.20, or 3.57%.

The company's Mazgaon JV has hit the roadblock. The other shipyards like L&T, Bharti and ABG raised objections shipyards allege.
 
MDL (Mazgaon Dock) wrote on August 25 seeking business plan from bidders. MDL and Pipavav have announced Joint Venture on September 9.
 
It was trading with volumes of 264,592 shares. In the previous trading session, the share closed up 1.93% or Rs 1.70 at Rs 89.70.

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	91.00	86.50	-4.50	-4.95
5-Days	78.65	86.50	7.85	9.98
7-Days	76.80	86.50	9.70	12.63
15-Days	72.70	86.50	13.80	18.98
1-Month	66.80	86.50	19.70	29.49
3-Month	79.65	86.50	6.85	8.60
6-Month	80.00	86.50	6.50	8.13
9-Month	73.20	86.50	13.30	18.17
1-Year	104.30	86.50	-17.80	-17.07