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This is an archive article published on February 28, 2012

Stake sale byte boosts GVK Power

Shares in Dr GV Krishna Reddy-led GVK Power and Infra rose as much as 5.

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Shares in Dr GV Krishna Reddy-led GVK Power and Infrastructure rose as much as 5 percent on Tuesday after the it was reported the company is in talks with BG Group to sell a part of its stake in seven oil and gas blocks off India8217;s west coast.

BHP Billiton Ltd,the company8217;s partner in these blocks,may also increase its holding,it said.

A company spokesman declined to comment on the report. At 10:05 a.m,the stock was up 4.7 percent at 16.70 rupees.

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