ABG, Bharti Shipyard surges six pc on BSE

 
The rival firms, ABG Shipyard and Bharti Shipyard-- are locked in a battle to gain control of the country's largest integrated offshore services player-- Great Offshore.

Yesterday, the companies got SEBI approval to go ahead with their open offer for Great Offshore.

The last offer price quoted by Bharati was Rs 560 per share, while that by ABG was Rs 540.

Shares of ABG Shipyard jumped 5.96 per cent to a high of Rs 213.90 on the BSE and surged to Rs 213.80, rising by 5.47 per cent on the National Stock Exchange.

While, shares of Bharati Shipyard climbed to Rs 174, up nearly six per cent on the BSE. On NSE, it jumped 6.02 per cent to a high of Rs 174.20.

Bharati has acquired 23.17 per cent stake in Great Offshore and ABG Shipyard currently holds around eight per cent in Great Offshore.

Meanwhile, shares of Great Offshore touched a high of Rs 548.70, up 5.68 per cent on the BSE and on the NSE, the stock surged 5.58 per cent to Rs 549.