Shipbuilders ABG Shipyard and rival Bharati Shipyard had been competing for a controlling stake in offshore drilling service provider Great Offshore, with both companies revising bids several times over the past six months.
The battle for control of integrated offshore services firm Great Offshore has ended without a thud. Yesterday ABG Shipyard announced that it has exited the race for Great Offshore. ABG along with its unit, Eleventh Land Developers Pvt Ltd, sold 3.08 million shares of Great Offshore, or about 8.27% stake, through a stock market sale, reports CNBC-TV18. ABG and the unit together now hold just 571 shares of the firm. From this stake sale, ABG has made a profit of approximately Rs 175 crore. .
ABGSHIPYARD Cmp Rs.205 sudden volume price Break-out and the stock which was trading below short & long term moving average close above showing strength on good volume
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