Report says that new defence procurement policy or DPP that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.
Pipavav Defence and Offshore Engineering Ltd stock was higher by 9% at Rs. 67. Report says that new defence procurement policy that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.
The defence ministry has already finalized the draft DPP and it has been approved by the Defence Acquisition Council (DAC).
The scrip opened at Rs. 64 and has touched a high and low of Rs. 68.6 and Rs. 64 respectively. So far 1326758(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4571.86 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. 51.45 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 67.45 and Rs. 52.65 respectively.
The promoters holding in the company stood at 37.48 % while Institutions and Non-Institutions held 56.35 % and 6.17 % respectively.
The stock is currently trading above its 50 DMA.
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