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News about NCL Industries Limited

September 27th, 2007

The media had reports on September 25, 2007 that NCL Industries Limited has bagged a huge cement order and may make a preferential offer to some FIIs.

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.

NCL Industries Limited has vide its letter inter-alia stated, “The Company has received an order for 1,50,000 MTs of 53 S Grade Ordinary Portland Cement for Railway Board, Ministry of Railways at the rate of Rs. 4200/- per MT. In addition to this, we received another order for 42,000 MTs of 53S Grade Ordinary Portland Cement from M/S. Rail Vikas Nigam Ltd at the rate of Rs. 4150/- per MT. The deliveries of these orders are scheduled to be completed by June/July 2008. These orders were bagged in an open competitive bidding process. The reports on the projected profitability and EPS are in the realm of speculation, and the company does not wish to comment on the same. Further, there is no proposal at present to make any preferential issue of shares to FIIs or otherwise. If and when there is any such proposal, we shall intimate the Stock Exchange.”

Entry Filed under: Equities, NSE, Infrastructure