JAIN IRRIGATION SYSTEMS LTD. - Jain Irrigation Systems Ltd reply to clarification sought by the exchange
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| 11 Dec 2014 | |
| The Exchange has sought clarification from Jain Irrigation Systems Ltd with respect to news article appearing in The Business Line on December 10, 2014 titled "Jain Irrigation in pact with Australian Co."<BR><BR>Jain Irrigation Systems Ltd replied stating "Yes the news report enclosed with your email of Yesterday is substantially correct. There is no material impact of this article on the Company operations or, it's financials, etc. It is in routine course that a research person of our Company has signed an MoU and it was placed on Company's website also for public in general but being not a price sensitive information nor material in nature it was not shared with Investors thru the Stock Exchanges. Such research is long term in nature and benefits, if any, may accrue over 5-10 years.<BR><BR>We are not aware of any information that requires announcement under Clause 36 in connection with the news report in your mail of yesterday. The said information is not price sensitive. The impact of this development on the performance of the company is not material in the short and medium term. We wish to highlight that the tie up is relatively on small scale and in a narrow business segment with no material impact on immediate financials even if research efforts are wholly successful.<BR><BR>Copy of material put on our website is enclosed herewith in form of a press release.<BR><BR>Company will ensure in future that any such event will also be informed to Exchanges as a matter of abundant precaution." | |
| View all announcements for JAIN IRRIGATION SYSTEMS LTD. | Source: BSE India |
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