Pipavav Defence up 2%; to raise funds via QIP

The company will meet on 18 January to consider raising funds for the company including by way of qualified institutional placements (QIP).

Pipavav Defence and Offshore Engineering Ltd stock was up by 2% at Rs. 81.

The company will meet on 18 January to consider raising funds for the company including by way of qualified institutional placements (QIP).

The scrip opened at Rs. 78.5 and has touched a high and low of Rs. 83.4 and Rs. 77.5 respectively. So far 5248778(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5878.64 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 114 on 28-Dec-2015 and a 52 week low of Rs. 46.6 on 23-Jan-2015. Last one week high and low of the scrip stood at Rs. 88 and Rs. 74.5 respectively.

The promoters holding in the company stood at 42.24 % while Institutions and Non-Institutions held 17.13 % and 40.63 % respectively.

The stock is currently trading below its 50 DMA.