Shares of ABG Shipyard tumbled over 13 per cent on Thursday after the company said that it is working within the framework of corporate debt restructuring (CDR) scheme and its principal repayment of loans are yet to start.
The scrip plunged 13.15 per cent to settle at Rs 149.65 on the BSE. In intra—day, it slipped 19.99 per cent to Rs 137.85 —— its 52—week low.
At the NSE, it dipped 13.34 per cent to end at Rs 149.70.
The company’s market valuation fell by Rs 121.29 crore to Rs 805.71 crore.
On the volume front, 4.62 lakh shares of the company changed hands at the BSE and over 20 lakh shares were traded at the NSE during the day.
In a filing to the BSE ABG Shipyard today said, “We wish to advise you that we are working within the framework of corporate debt restructuring (CDR) scheme and our principal repayment of loans are yet to start.”
BSE had sought clarification from ABG Shipyard with respect to reports of defaults on restructured loan.
In the broader market, the BSE benchmark Sensex ended at 27,809.35, down 27.86 points.