Clarification on the News Item published in the Dainik Bhaskar

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Pradeep Metals Ltd has clarified that a news report in Dainik Bhaskar claiming a ₹560.15 crore defense plant investment in Nagpur is speculative and premature. The company confirms that its Board had actually approved an investment of up to Rs. 250 Crores (not ₹560.15 crore) on January 30, 2026, for setting up a Greenfield Manufacturing Facility for defense equipment. The company has identified land at Butibori Industrial Area, Nagpur, for the proposed facility. Required disclosures under SEBI LODR were submitted to the stock exchanges on January 30, 2026 and April 27, 2026. The company notes that while SEBI Regulation 30(11) on rumour verification is not applicable to it, this clarification is being made as a good governance practice.

Likely market impact

The clarification corrects a significant overstatement of the company's planned investment (₹560 crore vs actual ₹250 crore approved). While the actual investment remains material, the inflated figure in the news could have misled investors. The filing demonstrates transparency but confirms a real expansion plan in defense manufacturing.