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Sundram Fasteners Limited on Friday clarified that there has been no cut in its capex programme for the current fiscal year as reported in a news story in the November 17 edition of The Hindu with the headline ‘Sundram Fasteners to cut capex by ₹100 crore’.
“At the outset, we deny that the company has either postponed or cancelled any of its capex programme,” the company’s CFO R. Dilip Kumar wrote in an e-mail. “During our recent investors call too, there was no announcement regarding the cut in the capex programme,” he added.
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