SNL Bearings Denies Stake Sale News

Resource from: CBCC Likes:2945

Sep 06,2010

SNL Bearings today clarified about the media reports which said, "SNL Bearings's holding Company NRB Bearings is in discussion with Tata Bearings for hiving of to them its entire shareholding in the company." SNL Bearings has clarified saying that there is no truth in this statement and such news is being circulated by mischievous elements to mislead investors. The stock had outperformed the market over the past one month till Sep. 02, 2010, rising 35.57% compared with the Sensex's 0.87% rise. It outperformed the market in past one quarter, gaining 67.40% as against 8.94% rise in the Sensex. Shares of the company gained Rs 3.95, or 4.49%, to trade at Rs 92. The total volume of shares traded was 119,298 at the BSE (2.23 p.m., Friday).

(CBCC)

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