News about Mahindra & Mahindra Limited and Lokesh Machines Limited
July 23rd, 2007
NSE Press Release
The media had reports that Mahindra & Mahindra Ltd. may acquire 51% stake in Lokesh Machines Limited.
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 companies.
Mahindra & Mahindra Ltd. has vide its letter inter-alia stated,” We wish to state that the report is speculative and the Company is not in a position to confirm or deny the veracity of the report.”
Lokesh Machines Limited has vide its letter inter-alia stated,” The company and its promoters keep receiving proposals from time to time for strategic partnerships, join ventures and acquisitions from different parties, including from some existing customers. The promoters of the Company have no intention of divesting their shareholding in the company as of now. If and when any such proposal takes a concrete shape the company will immediately inform the Stock Exchange.”
Entry Filed under: Equity Markets, NSE
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