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| Exchange Disseminated Time | With reference to the news item appearing in the news paper dated January 20, 2015 captioned "MRF in Talks to Buy Kesoram's Tyre Unit".
MRF Ltd has Clarified to BSE as under:
"a. We wish to clarify that the news item as reported in the media is based on speculation and as such we are not in a position to comment on market speculation.
b. Please note that the Company will keep the stock exchanges informed if there are any material events, in compliance with Clause 36 of the listing agreement.
We request you to also kindly note that a price movement of 1 - 2 % does not appear unusual considering the price movement history of the market and also that of our scrip. Further the share prices of several other tyre companies have also moved in a narrow range. It may also be noted that the price at the time of sending this reply is about Rs.39440 (3.30 p.m.) which is below the lower end of the price band mentioned in your letter."
In this connection, we wish to clarify that the news item is based on market speculation and hence, the Company has no comments." |
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