Standard Post with Image

GVK Power Clarifies on Oil Block Stake Sale Buzz

  • GVK Power & Infrastructure has clarified that the company appearing in leading financial daily titled ``GVK in talks with UK`s BG to sell deep-water block stake``, in the normal course of its business and as part of its growth plans, explores various possible options with one or more strategic business partner, within and outside India, to buy or sell equity stake in various business verticals of the company including the airport vertical and oil & gas business.However, as on date, neither the company nor its subsidiary have entered into any agreement with any party for selling equity stake in company`s Airport vertical and oil & gas business.
  • The company has further clarified that, as a policy, the company do not respond to speculative news and the company is not aware of the source of this information.Shares of the company gained Rs 1.05, or 6.56%, to trade at Rs 17.05. The total volume of shares traded was 3,501,760 at the BSE (2.16 p.m., Tuesday).

Source