Tata Investment clarifies on news item regarding consolidation

With reference to the news item appearing in a leading financial daily titled "Tatas plan umbrella equity for finance arms", Tata Investment Corporation Ltd has clarified that the said article, inter alia, refers to the Company as being one of the Companies allegedly proposed to be consolidated under one Company. This report appears to have had a significant impact on the market price of the Company's shares and also on the trading volumes.

It may state that this report comes to the Company as a complete surprise and the Company is not aware of any developments referred to in the report, in respect of the Company. The Company has announced its annual working results as recently as on June 04, 2007.

The stock closed the day at Rs.483, down by Rs.15 or 3.01%. The total traded quantity was 77262 compared to 2 week average of 42546. The stock hit an intraday high of Rs.498 and low of Rs.451.25.

Source : Equity Bulls

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