Clarification from Tech Mahindra Ltd

The Exchange had sought clarification from Tech Mahindra Ltd with respect to the news article in the Media (Economic Times - July 23, 2014) that "IBM, WIPRO, Others in Race for 1200 Cr. RCOM Deals".

Tech Mahindra Ltd has replied as under:

"You may please appreciate that the Company reported consolidated revenue of USD 825m in the quarter ended March 2014 and in line with its global presence and size ,it participates in many bids/tenders/business proposals, in the normal course and these opportunities may or may not materialize. While we are conscious of the provisions of the Clause 36 of the Listing Agreement, where we have an obligation to inform the price sensitive events and other events mentioned therein, we would like to bring to your kind attention that each and every participation in the bid/tender/business proposal may not be treated as price sensitive information. Further such intimation in the absence of certainty of business may mislead the investors."

Source : BSE - >www.bseindia.com

Published on July 24, 2014
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