|
| Exchange Disseminated Time | The Exchange had sought clarification from Piramal Enterprises Ltd with respect to news appearing in The Financial Express on January 14, 2015 titled "Piramal's pharma arm to invest $40 m in new tech."
Piramal Enterprises Ltd replied stating "As part of its strategy, the Company's Pharma Solutions division continually looks at viable investment opportunities for augmenting its existing capacity and adding new capabilities, including by way of adding new equipments and incorporating new technologies. All of these are channelled towards achieving operational excellence and growth.
Recently, the Company has completed a series of these initiatives across its various locations and investments have been channelled in this direction.
While confirming the statement issued by the Company which is reflected in the captioned news article, we would like to clarify that these capital expenditure (comprising both incurred and planned) are in the ordinary course of the Company's business." |
|
|