India: ABG Shipyard Improves Its Stock Market Position with New Orders

Largest private Ssctor shipbuilding yard in India ABG Shipyard, opposite to the other company Bharati Shipyard, is looking much better. In fact it has been consolidating between 350 and 400 points on the stock market and once it crosses 400, it would actually move up further and the near term that is say next 3 months to 6 months target would be somewhere around 450 to about 460 and beyond that, the pattern is pretty much regular.

So if the market were not to go into a major tailspin, this stock can easily go up to 520 over a period of 1 year to about 18 months.

ABG Shipyard Ltd, the flagship company of ABG group was incorporated in the year 1985 as Magdalla Shipyard Pvt. Ltd. with the main objects of carrying Shipbuilding and Ship Repair business. In a span of 15 years from the year 1991, the company has achieved the status of the largest private sector shipbuilding yard in India with satisfied customer base all around the world. The registered office and the yard are situated at Surat in the state of Gujarat and the corporate office is in Mumbai. During past decade, the Shipyard has constructed and delivered One Hundred four(104) Vessels including Specialized and Sophisticated vessels like Interceptor Boats, Self Loading and Discharging Bulk Cement Carriers, Floating Cranes, Articouple Tugs and Flotilla, Split Barges, Bulk Carriers, Newsprint Carriers, Offshore Supply Vessels, Dynamic Positioning Ships, Anchor Handling Tug Supply Vessels, Multi-purpose Support Vessel, Diving Support Vessels, etc. for leading companies in India and abroad.

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Source: abgindia, August 11, 2011;