ABG Shipyard bagged its first rig order.

ABG Shipyard galloped 10.15% to Rs 127 at 10:13 IST on BSE, after the company bagged its first rig order.
The stock hit a high of Rs 132 and a low of Rs 124.90 so far during the day. The stock has a 52-week high of Rs 1045 on 30 November 2007 and a 52-week low of Rs 108.60 on 27 October 2008.
The company’s current equity is Rs 50.92 crore. Face value per share is Rs 10.
The current price of Rs 127 discounts the company’s Q2 September 2008 annualized EPS of Rs 20.49, by a PE multiple of 6.20.
ABG Shipyard has bagged an order worth $480 million from Essar Oilfields Services of Mauritius for construction of rigs.
With this latest order, the company’s total order book stands at $2.91 billion.
ABG Shipyard’s net profit fell 23.5% to Rs 26.08 crore on 32.30% increase in net sales to Rs 280.21 crore in Q2 September 2008 over Q2 September 2007. The company announced its Q2 September 2008 results on Saturday, 1 November 2008.
ABG Shipyard is engaged in building and repairing a variety of marine ships for commercial and government customers. It also manufacturers marine ships, including bulk carriers, deck barges, interceptor boats, anchor handling supply ships, diving support ships, tugs and offshore vessels.