[India] Piramal: Stake Sale Talks Denied

Piramal Glass has disputed a recent newspaper report claiming it was in talks to sell a stake in the company to Hindusthan National Glass & Industries (HNGI), describing it as "baseless." The Economic Times reported that the Ajay Piramal Group was in discussions to sell its glass business to India's largest container glass manufacturer, HNGI. "No document whatsoever has been signed with Ajay Piramal Group or the company," said HNGI in a statement. "The company has made acquisitions in the past in this line of business and is always open to further consolidations," it added.