The media had reports that Phoenix Lamps Ltd may acquire lighting business of Surya Roshni Ltd.
The National Stock Exchange Of India, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Phoenix Lamps Ltd has vide its letter inter-alia stated, “We wish to submit that the Company has not entered into an MOU or any negotiation with Surya Roshni limited (Surya) to buy its lighting division. The Company has only bought two old and closed auto lamps manufacturing machines from Surya in the normal course of business valued at Rs. 1.38 crore.” -- www.nseindia.com
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