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Jan 31, 2013, 03.23 PM IST | Source: Moneycontrol.com

Kennametal India parent to reduce stake in comapny

Kennametal Inc., the promoter shareholder of Kennametal India is intend to reduce their shareholding in the Company through one or more methods permitted under Clause 40A of the equity listing agreement that the Company has entered into with the Stock Exchange, in order to comply with the terms of the Securities Contract (Regulations) Rules, 1957.

Kennametal India Ltd has informed BSE that the Board of Directors of the Company has taken note of the Letter received from Kennametal Inc., the promoter shareholder of the Company whereby Kennametal Inc. has informed the Company that its promoters intend to reduce their shareholding in the Company through one or more methods permitted under Clause 40A of the equity listing agreement that the Company has entered into with the Stock Exchange, in order to comply with the terms of the Securities Contract (Regulations) Rules, 1957.Source : BSE

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