Cranes Software clarifies on Proland acquisition

With reference to the news item appearing in a leading financial duly titled "Cranes Software close to buying out Proland", Cranes Software International Ltd has clarified that the Company upon some strategic acquisitions as part of its 'Acquire - Enhance - Expand' business model, and the Company as a policy, makes announcements the moment they are completed.

The Company has announced on June 16, 2007. two acquisitions (Dunn Solutions Group and Tilak Autotech) which have been approved by the Board. The same has been informed to the Stock Exchanges also.

Whenever the acquisitions reach a stage of completion, the Company makes the announcement. On the cited issue, it is difficult at present to reply to such speculative reports.

The stock was trading at Rs.133.75, up by Rs.1.30 or 0.98%. The stock hit an intraday high of Rs.135.05 and low of Rs.133. The total traded quantity was 54244 at an average price of Rs.134.37 resulting in a turnover of Rs.72.89 Lakhs.

Source : Equity Bulls

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