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This is an archive article published on June 18, 2010

Pipavav denies stake sale to Reliance

Talks on the stake sale were rumoured to be at an advanced stage.

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Pipavav Shipyard is not in talks with Reliance Industries for a stake sale,Nikhil Gandhi,chairman of SKIL Infrastructure,which controls Pipavav it was revealed today.

Earlier this week,media reports had said Reliance could buy a 26 percent stake in the shipbuilding firm.

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