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| Exchange Disseminated Time | With reference to the news item appearing in a financial daily titled "Deepak Nitrite plans rights issue to fund expansion, pare debt”, In this regard, Deepak Nitrite Ltd
has Clarified to BSE as follows:
"Deepak Nitrite Limited has made no plans to issue rights to fund expansion or to pare debt and, hence, no negotiations are being carried out. We confirm that the Company has not released any specific information pertaining to the news item and there have been no inputs / sources from the Company to the said news item.
Rest assured, all future growth plans involving fund raising exercise that ore approved by the Board of Directors will be first communicated to the Stock Exchange at an appropriate time and in an appropriate manner.
As regards the price increase on May 23, 2014, it could be because we announced commissioning of our balance capacities at our new OBA plant at Dahej, which was informed to the Stock Exchange immediately on May 21, 2014." |
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