The media had reports that Karuturi Networks Limited may acquire an agriculture firm in Germany for 40 million euros and may also foray into horticulture.
The Exchange, 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.
Karuturi Networks Limited has vide its letter inter-alia stated, "We are broad basing our product portfolio into a larger agri product basket and accessing markets in newer geographies for the agri-products we will grow. In the said media report, our Managing Director did not delve into the methodology and details of accessing newer geographies. The media has interpreted his quotes in a different way." -- www.nseindia.com
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