Nahar Spinning Mills has announced a dividend of 50 per cent on the equity share capital for 2005-06. It has also decided to put up a new spinning project of 25,000 spindles at village Lalru, Dist. Patiala, Punjab. On its completion, the total capacity will stand increased to 1.42 lakh spindles and 720 rotors.
United Western Bank will be holding its board meeting on June 23 to consider the audited results for the year ended March 31, 2006, and recommend dividend, if any for the financial year..
Moser Baer India has recommended a dividend of 10 per cent on the paid-up equity share capital of the company.
Sundram Fasteners has convened a meeting of the board directors on June 17 to consider audited financial results and approve payment of second interim dividend for the year ended March 31, 2006.
Morarjee Textiles, at its board meeting held on June 8, recommended dividend of 25 per cent (Rs. 2.50 per share) on equity shares and 5 per cent on 5 per cent redeemable cumulative preference shares.
Cravatex has announced a dividend of 30 per cent on the equity share capital of the company for the year ended March 31, 2006.
Ion Exchange India will be paying a dividend of 10 per cent on equity shares for 2005-06.
ACC shareholders, at a meeting held on June 8, have approved the scheme of amalgamation of Tarmac India Ltd. with the company. The company is filing a petition with the Bombay High Court seeking its approval for the scheme.
Shoppers Stop has stated that the Nuance Group is teaming up with the company in a joint venture designed to enter the Indian airport retail market. The joint venture plans to offer a comprehensive range of services from operating master concessions to distribution for international brands.
India Cements has announced that a meeting of the board of directors will be held on June 13 to consider issue of stock option to the employees.