Jindal Saw clarifies on news item

With reference to the news item appearing in leading portal titled "Jindal Saw likely to bag an order $400 m; Order likely from a global petrochem player for pipes", Jindal Saw Ltd has clarified as under:

1. Regarding possibility of bagging and order worth $400 million : The Company states that, it is premature to comment on the news item at this point of time.

2. Regarding sale of Plate Mill : The Company has issued the following clarification to the electronic media which is reproduced below;

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On Behalf of its USA affiliate Jindal Saw Ltd strongly Denies the Rumor

Reacting on behalf of its US Affiliate Jindal Saw Ltd strongly denies the rumor in circulation that the steel Plate Mill in USA owned by one of its affiliates is on the block. There is no such indication in the organization's communication in the recent past, which may have led to such speculation, which is completely baseless and is strongly denied.

Source : Equity Bulls

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