Patel Engineering clarifies on news item regarding coal mines

With reference to the news item appearing in a leading financial daily titled "Patel Engg may buy overseas coal mines", Patel Engineering Ltd has clarified that, the Company is in the preliminary stage of search for acquiring coalmines across various countries. The Company always release information first to the Stock Exchange and then to the press, but only upon execution.

The Company has not provided any such information to the media and hence is not responsible for the same. The Company shall promptly intimate stock exchange and the media any domestic or international acquisition.

The stock closed the day at Rs.471.75, up by Rs.34.20 or 7.82%. The stock hit an intraday high of Rs.475 and low of Rs.443. The total traded quantity was 315146 compared to 2 week average of 130514.

Source : Equity Bulls

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