RNAVAL

Pipavav Defence and Offshore Engineering Company Limited has informed the Exchange that "It has come to the Company s notice that its stock price has experienced unusual volatility in the recent past on the basis of unfounded rumours of sale of shares owned by the promoters. The said rumours are spread by unscrupulous elements with malafide intentions. The promoters are fully committed to the Company and the entire promoters' holding of 45.03% remains intact. The Company is on its continuous growth path and moreover, we would like to state that there has been no adverse development in the bu

News Verification : The media had reports that Pipavav Defence and Offshore Engineering Company Limited. is in talks to sell its 26% stake in equity. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Pipavav Defence and Offshore Engineering Company Limited has vide its letter inter-alia stated, "The Company has not made any announcement relating to any content appearing in the media."

News Verification : The media had reports that Pipavav Shipyard Limited may receive a large order from Mazgaon Dock in Mumbai. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Pipavav Shipyard Limited has vide its letter inter-alia stated, "Mazagon Dock Limited (MDL) had sent to the Company in March 2011, a copy of their Expression of Interest entitled "Synergising Efforts of MDL in Shipbuilding" inviting private sector shipyards to

News Verification : The media had reports that Pipavav Shipyard Limited has cancelled 2 ship orders worth $ 75 Mn. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Pipavav Shipyard Limited has vide its letter inter-alia stated," The reports in the media that the Company has cancelled 2 ship orders worth $75 millions is false and baseless."