BIZBITS

1 :2 bonus by Bajaj AutoMUMBAI May 20: The board of directors of Bajaj Auto at its meeting held on Monday has recommended a bonus issue in ...

1 :2 bonus by Bajaj Auto

MUMBAI May 20: The board of directors of Bajaj Auto at its meeting held on Monday has recommended a bonus issue in the ratio one for two to the shareholders, capitalising free reserves equivalent to an amount of Rs 39.80 crore.

The proposal is subject to the approval of shareholders at the annual general meeting of the company proposed to be convened on July 26.

B2 limit up

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MUMBAI: Keeping in view the improved market conditions, the Bombay Stock Exchange (BSE) authorities have increased the cumulative net outstanding business in B2 group (ie net purchase-net sales or vice versa) in individual scrip and cumualtive gross outstanding position (i.e. net purchase plus net sales) in all scrips taken together to Rs 20 lakh and Rs 100 lakh respectively with effect from Monday from Rs 10 lakh and Rs 75 lakh respectively.

Sabero Organics

MUMBAI: The directors of Sabero Organics Gujarat have recommended a dividend of 12 % (10 %) for the year ended March 1997 on an equity base of Rs 11.78 crore amounting to Rs 1.41 crore. It has achieved a sales turnover of Rs 72.52 crore with a net profit of Rs 6.15 crore, more than a 70 % increase in the same period last year.

NSDL

MUMBAI: Cochin Refineries, HDFC Bank, Morepen Laboratories, Oswal Agro Mills, Oswal Chemicals and Fertilisers, Reliance Industrial Infrastructure, Sun Pharmaceuticals and Weizman have signed agreements with National Securities Depository Limited (NSDL) to get their equity shares admitted for dematerialisation.