Earlier the news item regarding "Kesoram Ind In Final Stage To Sell Its Tyre Business. Tyre Biz Deal Size Valued At Around Rs. 3,500 Cr. Tyre Biz Deal Expected To Be Announced Within A Week."
With reference to the news item regarding "Kesoram Ind In Final Stage To Sell Its Tyre Business. Tyre Biz Deal Size Valued At Around Rs. 3,500 Cr. Tyre Biz Deal Expected To Be Announced Within A Week." - CNBC TV 18, Kesoram Industries Ltd has Clarified
"We note that CNBC-TV-18 has released what it calls a News Flash to the effect that we were supposedly "in the final stages of selling" our "Tyre Business". The "deal size" was apparently "around Rs.3500 Crores" and "was expected to be announced in a week".
We are unable to respond to wild media reports grounded entirely on speculation, conjectures and market rumours.
Against the above background, we can categorically state that no negotiations of the nature referred to in your letter under reference has taken place or is taking place.
We are also unable to comment on any trading that happens on the Exchange based entirely upon market rumours, speculation and conjectures.
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