Pipavav Defence in the limelight

Pipavav Defence opened higher at Rs.57.50 and went on to hit an intra day high at Rs.60.80 and the stock is up almost 3.5% currently at Rs.59. Its 52-week is at Rs.73.90.

There are unconfirmed reports that the company might soon take the Corporate Debt Restructuring (CDR) route to get relief from its debt of some Rs.7000 crore. Its interest outgo at end of 6 months of current fiscal stood at over Rs.200 crore and by end of FY15, debt-equity ratio, as per analysts is expected to hit 2.26.