earlier known as Garware Offshore, hit the
20% upper circuit of . 78.90 on the BSE on speculation that a Norwegian firm is in talks to acquire a stake in the company. Market grapevine has it that promoters may be looking to sell their stake, which could be bought at a premium to the current market price. Top company officials said such talk was ‘baseless’ and expressed surprise over the surge in the stock. A top official denied that promoters were in talks to sell the stake. Global Offshore shares have almost halved in a year compared to the 7.5% decline in the Sensex.
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