KIRLOSKAR BROTHERS LTD. - Clarification from Kirloskar Brothers Ltd
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| 04 Sep 2014 | |
| With reference to the news item appearing in a leading financial daily dated September 04, 2014 titled "Kirloskar Bros Sign Deal with Peru's Water Authority", Kirloskar Brothers Ltd has submitted to BSE clarification / confirmation on the news item as under:<br/><br/>"(a) The Company had sponsored a Mine water conference at Peru, where the Company made a presentation on its 'Low Life Cycle' technology. Considering the presentation, the authority namely, National Water Authority of Peru (ANA) showed its interest for sharing of information and experience in good water management systems of the Company and enhancing the capabilities of ANA staff on water management and also to enter into specific agreement at a future date on the above areas. Further, both the parties signed a Memorandum of Understanding (MOU) on August 27, 2014, for the above matters. Till date, no further progress has been made in this regard.<br/><br/>(b) In terms of the above MOU, there is no specific future commitment of business from ANA to the Company and hence it was not considered as a price sensitive information qualifying for disclosure under clause 36 of the Listing Agreement. Considering the same, we feel that the recent increase in the price of the Companys scrip is not attributable to the said press release." | |
| View all announcements for KIRLOSKAR BROTHERS LTD. | Source: BSE India |
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