Pipavav Shipyard denies order cancellation reports

Private shipbuilder Pipavav Shipyard today clarified that the media reports about the company cancelling 2 ship orders worth USD 75 millions is false and baseless.
According to media reports the company is likely to  face order cancellations from global customers owing to significant delays at the yard.
Shares of the company gained Rs 1.4, or 1.66%, to settle at Rs 85.65. The total volume of shares traded was 5,192,695 at the BSE (Tuesday).