Gati Limited (BSE:532345) has denied media reports that Delhivery Limited (NSEI:DELHIVERY) is in talks to acquire stake in the company. According to media reports, Delhivery is in talks to acquire parent Allcargo Logistics' stake in the Hyderabad-based express logistics, warehousing and supply chain company. As on March end, Allcargo Logistics held 50.2% stake in the company “Gati is Allcargo's subsidiary and remains an important and integral part of Allcargo Group.

We remain focussed on strengthening the group's position in the fast-growing express logistics business segment,” a statement to the stock exchanges outlined. Earlier, Delhivery had also denied the media reports about acquisition outlining that the news is factually incorrect and baseless. “There have been no such discussions whatsoever,” Delhivery said in a statement.