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Bharat Gears has informed the exchanges that its board has decided to defer the proposal of acquisition of XDIL due to adverse market conditions and further concentrating on cost cutting measures to overcome the prolong subdued market. The board may re-consider the the proposal in future as and when the market conditions gets improved, as it may deem fit in the best interest of the company, it said in the notice. Shares of Bharat Gears closed 0.26 per cent lower at ₹75.30 on the BSE.
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