Thursday, September 6, 2007

Pricol Property Development Ltd has entered into a Joint Venture with Vascon Engineers Ltd.

Pricol clarifies on tie-up with Vascon Engineers

With reference to the news item appearing in a leading financial daily titled "Pricol ties up with Vascon Engineers", Pricol Ltd has clarified that the Company has not entered into any Joint Venture with Pune construction Company, Vascon Engineers Ltd to develop real estate project.

Further the Company has informed that only Pricol Property Development Ltd has entered into a Joint Venture with Vascon Engineers Ltd.

The news item in financial daily has wrongly mentioned a Joint Venture between the Company and Vascon Engineers Ltd, instead of a Joint Venture between Pricol Property Development Ltd and Vascon Engineers Ltd.

The stock was trading at Rs.30.35, up by Rs.1.25 or 4.30%. The stock hit an intraday high of Rs.30.80 and low of Rs.29.50. The total traded quantity was 61279 compared to 2 week average of 29123.

Source: Equity Bulls

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