September 4, 2006
The media had reports that Patel Engineering Limited is likely to acquire a domestic company in the infrastructure engineering space for around Rs 80 crore - Rs 100 crore.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Patel Engineering Limited has vide its letter inter-alia stated, "As far as the Company is concerned we stoutly deny the news of acquisition. The Company always intimates the Stock Exchange before any news has been published."
Source: National Stock Exchange of India Limited
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