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Jun 22, 2012, 12.19 PM IST

DCNS may buy stake in Pipavav Defence, stock gains 2%

Pipavav Defence and Offshore Engineering Company gained as much as 2% to touch an intraday high of Rs 85 on Friday after The Economic Times reported that France defence major DCNS may acquire up to 10% stake in the Nikhil Gandhi-promoted company for Rs 800 crore.

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Pipavav Defence and Offshore Engineering Company gained as much as 2% to touch an intraday high of Rs 85 on Friday after The Economic Times reported that France defence major DCNS may acquire up to 10% stake in the Nikhil Gandhi-promoted company for Rs 800 crore.


At 12:11 hours IST, the share was trading at Rs 84.05, up 0.90% with volumes of 5,41,966 equity shares.
 
Market capitalisation of the company currently stands at Rs 5,809.52 crore.
 
As of March 31, 2012, SKIL Infrastructure holds 36.05% stake in Pipavav Defence and SKIL Shipyard Holdings Pvt Ltd 4.33%.


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