Nucleus Software Exports Ltd has announced that one of the major customers of an overseas subsidiary of the Company, has on July 25, 2009 given notice to this subsidiary of partial cancellation of contracts, on a date one month from receipt of notice.
The customer has further asked for early meetings, to have mutual agreement for the purpose of reaching a settlement. As per legal opinion received, and an assessment by management, there is no liability on the Parent Company, and there is no impact on the financial results of the Company for this quarter.
The stock was trading at Rs.87.75, down by Rs.2.10 or 2.34%. The stock hit an intraday high of Rs.92.30 and low of Rs.84.05.
The total traded quantity was 135278 compared to 2 week average of 113291.
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Union Budget