Kesoram Industries Ltd clarifies on sale of Birla Tyres

Kesoram Industries Ltd has clarified with reference to the news appearing in leading newspaper dated July 06, 2015 titled "JK Tyre Frontrunner to Buy Birla Tyres from Kesoram".

"As already stated in our rebuttal reproduced verbatim in the impugned Report of The Economic Times, the Company has no intentions of selling/disposing of Birla Tyres, its tyre business.

We wish, therefore, to reiterate that we are not in negotiations with J K Tyres to sell/dispose of Birla Tyres, our tyre business.

In this connection, we wish to clearly and categorically state that the Company will continue to be in the tyre business. Any reports to the contrary appearing in the media are speculative and misleading."

Shares of KESORAM INDUSTRIES LTD. was last trading in BSE at Rs.85.1 as compared to the previous close of Rs. 81.65. The total number of shares traded during the day was 1741918 in over 14626 trades.

The stock hit an intraday high of Rs. 89.8 and intraday low of 84. The net turnover during the day was Rs. 151057796.

Source : Equity Bulls

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