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IOC pays interim dividendThe company registered a 100 per cent rise in net profit of Rs 25.31 crore for the first nine months of the curre...

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IOC pays interim dividend

The company registered a 100 per cent rise in net profit of Rs 25.31 crore for the first nine months of the current fiscal as against Rs 12.09 crore last year, a company release said adding DSCL expected high business growth in fertiliser, chemicals this year.

DSCL recently commissioned its poly aluminium chloride plant strengthening its presence in water treatment applications and would expand its PVC compounding facility shortly.

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During February, it expanded its Kota captive power plant capacity by 10 mw to take it to 85 mw, the release added.

Kirloskar Oil Engines

NEW DELHI:

KIRLOSKAR Oil Engines Ltd (KOEL) will merge the ailing Shivaji Works Ltd with it as per the rehabilitation scheme sanctioned by the Board for Industrial and Financial Reconstruction (BIFR).

A two-member bench comprising members T R Shridharanand N R Banerji directed that all assets and properties of Shivaji Works (SWL) would be inluded in the undertaking of KOEL.

BIFR said Kirloskar Oil Engine shall issue and allot to the equity shareholders of SWL, equity shares in KOEL in the ratio 1:25 implying one KOEL share for every 25 SWL shares. The share transfer date would be decided by KOEL.

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BIFR said that with the scheme being sanctioned, SWL" shall stand dissolved without winding up" and all costs and expenses leading to the scheme being carried out would be borne by KOEL.