Infosys board okays 1:1 bonus issue: The shareholders of Infosys Technologies Ltd approved the issue of bonus shares in the ratio of 1:1 at the company's extraordinary general meeting held here on Wednesday. The shareholders have also approved the company's proposal to increase the authorised share capital to Rs 50 crore from Rs 30 crore. The Board of directors has fixed March 5 as the record date for the issue of bonus shares. Gulf Oil India profit at Rs 7 crore: Gulf Oil India Ltd has registered a 30.3 per cent growth in profitability for the nine months ended December 31, 1998. Profits of the company increased to Rs 7.01 crore from Rs 5.38 crore during the previous corresponding period. Turnover of the company increased to Rs 176.75 crore as compared with Rs 167.49 crore during the same period in the previous year.FIs approve Blue Star unit's spin-off: Financial institutions have given their stamp of approval to spin off Blue Star Ltd's software division to Blue Star Infotech Ltd. Theinstitutions -- GIC, UTI and LIC -- hold an 8.80 per cent stake in Blue Star Ltd. The assets of the software division would be transferred to the new company at book value. Shareholders of Blue Star Ltd would get one share of Blue Star Infotech Ltd and three shares of Blue Star Ltd in place of every four shares Blue Star Ltd held by them.
Consortium bags project contract: The Mahindra Realty & Infrastructure Developers Ltd-led consortium has bagged India's first private integrated water and sewerage project. An agreement to this effect was signed in Chennai with New Tirupur Area Development Corporation Ltd. The consortium comprises, in addition to the Mahindra & Mahindra subsidiary, Bechtel Enterprises Inc and United Utilities International of UK.
Exhibition: An eight-day exhibition on electrical industry was inaugurated on Wednesday in Mumbai. Organised by the Indian Electrical and Electronics Manufacturers' Association (IEEMA), the fair was opened by the state deputy chief ministerGopinath Munde.
Ipca Labs board to meet: Ipca Laboratories board will meet on Monday, January 25 to take on record the unaudited financial results for the quarter ended December 31, 1998.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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