Pipavav In Talks To Sell Stake

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p style="text-align: justify;">The deal is likely to come through within the next two weeks, a source with direct knowledge of the matter said on Tuesday.<br><br>"Pipavav is talking to a large international player. It would take about one or two weeks for the deal," the source said.<br><br>India's largest shipyard by market capitalisation hopes to sell the shares at a 20 per cent premium to its current market price, the source, who declined to be identified ahead of a public announcement, told Reuters.<br><br>At the current market price, this would come to more than 100 rupees a share.<br><br>Earlier on Tuesday, Pipavav shares rose nearly 10 per cent after a television channel reported the firm was in talks to sell a stake. At 2:30 pm the shares were up 8.64 per cent at 88.65 rupees in the Mumbai market.<br><br>Pipavav Shipyard's promoters currently hold about 45 per cent in the firm, data from the stock exchange showed.<br><br>(Reuters)</p>