"... Company is in an advanced stage of negotiations with various parties including Essar Shipping Ports and Logistics for the construction of Jack-up Rigs.
"However, no formal contract has been concluded to this effect between the Company and any other parties, as on date," the firm said in a filing to the Bombay Stock Exchange.
The firm was clarifying on a media report saying that "ABG Shipyard sails on bagging $ 440-million order."
"...The company deals with many potential parties and the company announces only those orders which are converted into effective business by signing a contract."
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Shares of the firm closed at Rs 351.35, up 2.39 per cent on the BSE.