RHI MAGNESITA INDIA LTD.
(Formerly Orient Refractories Ltd.)
301, 316-17, Tower B, EMAAR Digital Greens Golf Course Extension Road, Sector 61, Gurugram, Haryana-122011,
INDIA
T +91 124 4062930
E corporate.india@rhimagnesita.com www.rhimagnesitaindia.com
19 October 2022
To,
National Stock Exchange of India Limited,
Compliance Department,
Exchange Plaza, Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051,
Maharashtra, India
Stock Code: RHIM
Dear Sir/ Madam,
Sub: Clarification on Spurt in Volume ‐ RHI MAGNESITA INDIA LIMITED
This is with reference to your email dated 18.10.2022 on the captioned subject with respect to recent Spurt in Volume, seeking a response from the Company on the same.
Kindly note that the Company has been on the lookout for business acquisitions in its core refractory business and in this connection has identified some potential business entities. A Board meeting was held yesterday on 18.10.2022 to consider and approve the execution of a Business Transfer Agreement (BTA) with Hi‐Tech Chemicals Limited. The meeting was held after trading hours at a shorter notice and details of the BTA (including name of the entity whose business is being acquired) were disclosed and discussed in the meeting of the Board only to avoid any kind of speculation.
The company has been diligent in filing required intimations with regard to all the events, information etc. which in the opinion of the Company have a bearing on the operation/ of the company including all price sensitive
information, | etc. | in | compliance | with | the | provisions | of | Regulation | 30 | of | the |
SEBI (LODR) Regulations, 2015 and necessary disclosures with regard to above are also being filed separately. |
The spurt in volume can be attributed to various external factors over which the company has no control.
Trust this clarifies.
Thanking you,
Yours faithfully,
For RHI Magnesita India Limited
SANJAY KUMAR
Digitally signed by
SANJAY KUMAR Date: 2022.10.19 10:39:05 +05'30'
Sanjay Kumar
Company Secretary
Membership no. A17021
Registered Office: Unit No.705, 7th Floor, Lodha Supremus, Kanjurmarg Village Road, Kanjurmarg (East), Mumbai‐400042, T +91 22 49851200
CIN: L28113MH2010PLC312871
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RHI Magnesita India Ltd. published this content on 19 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2022 05:22:03 UTC.