Latest News Tips on Indian Stock Market

Shares in India's Pipavav Defence and Offshore Engineering slump 10 percent.Reliance Infrastructure has agreed to buy the company at 63 rupees a share, a 17.6 pct discount to its close on Wednesday.Pipavav shares surged 90.1 pct so far this year till Wednesday.

However, shares in Reliance Infrastructure gain 2.5 pct.This acquisition certainly gives Reliance a leg-up in the naval business given significant ordering expected for submarines and warships - Edelweiss
Securities.

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