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| Exchange Disseminated Time | With reference to the news item appearing in the financial daily titled "Auto Components maker Uno Minda eyes Rs 200Crs Acquisition in Europe", Minda Industries Ltd has Clarified to BSE as under:
"as a Group we continue to explore Business Opportunities & possibilities to grow globally. In this regard, we evaluate various options and possibilities that come our way, in normal course of our business.
In the article featured in Economic Times, our CMD has mentioned various opportunities which are being explored like acquisitions, manufacturing of automated transmission systems, starting facility for alloy wheel manufacturing. It is at a very preliminary stage and therefore he has very clearly mentioned that the company cannot divulge details right now.
Thus, there are various business opportunities being explored by the company, these are not yet crystallized and therefore be premature to announce the specifics. As and when, any business opportunity moves in direction of concrete steps, we will announce the same as per the requirements of clause 36 of the listing agreement.
With reference to the media reports, it remains our policy not to comment on what is market rumour and speculation.
We wish to reiterate that the company and its management remains committed to the highest standard of corporate governance, and will communicate to stock exchanges on developments as they happen." |
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