The stock has slipped over 2 per cent on talks Sebi probe in trades recent to Rel Infra stake buy.
Pipavav Defence is trading on a negative note in morning trades on reports of Sebi probe in trades done prior to Reliance Infrastructure stake buy.
Reliance Infra announced acquisition of 18 per cent controlling stake in Pipavav Defence and Offshore Engineering at Rs. 63 per share to a total of around Rs 2,082 crore on 4 March, 2015. It was followed by an open offer at Rs. 66 per share.
Pipavav has since then trading on a soft note. The stock so far today has touched a low of Rs. 57.15, and is now down 2.2 per cent at Rs. 58.50. The counter has seen trades of around 4,96,000 shares as against the two-week daily average volume of around 2.91 million shares on the BSE.
Meanwhile, the Sensex has surged 285 points to 28,722.
Reliance Infra announced acquisition of 18 per cent controlling stake in Pipavav Defence and Offshore Engineering at Rs. 63 per share to a total of around Rs 2,082 crore on 4 March, 2015. It was followed by an open offer at Rs. 66 per share.
Pipavav has since then trading on a soft note. The stock so far today has touched a low of Rs. 57.15, and is now down 2.2 per cent at Rs. 58.50. The counter has seen trades of around 4,96,000 shares as against the two-week daily average volume of around 2.91 million shares on the BSE.
Meanwhile, the Sensex has surged 285 points to 28,722.
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