Escorts Limited Dilutes Its Stake

The media had reports that Escorts Ltd may dilute its stake in its wholly owned subsidiary, Escorts Construction. 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.

Escorts Ltd. has vide its letter inter-alia stated, that "We wish to inform that at present the company is not diluting its equity stake in Escorts Construction Equipments Limited. Further, the news regarding offering of its stake in Escorts Construction Equipments Limited to Franklin Templeton AMC is also incorrect." -- www.nseindia.com