Damodar Valley Corporation has contributed a sum of Rs 1.42 crore to the national defence fund for the jawans in the Kargil sector of Jammu and Kashmir. A company release today said all the employees and officers of the corporation had contributed one day's salary for the purpose. NHPC donates Rs 2.30 crore National Hydroelectric Power Corporation has contributed Rs 2.30 crore to the National Defence Fund. This includes Rs 2 crore contributed by the corporation from its own resources with the remaining Rs 30 lakh coming from employees contribution. Each employee of the company has contributed one day's salary to the fund, a corporation release said on Wednesday.

Castrol India contributes Rs 25 lakh

Castrol India has contributed Rs 25 lakh towards the welfare of the families of armed personnel who died in the Kargil operations. The check has been forwarded to vice admiral and flag officer western naval command Madhavendra Singh.

GTB donates Rs 21lakh

Global Trust Bank Ltd and its 800 employees together made a donation of Rs 21 lakh towards the Kargil relief fund. The employees of the bank contributed five days of their salary that amounting to Rs 5 lakh and the rest was put in by the bank.

Gujarat Narmada gives Rs 25 lakh

Gujarat Narmada Valley Fertilisers Ltd chairman Pradeepsinh Jadeja handed over a cheque of Rs 25 lakhs to chief minister Keshubhai Patel for the jawans and martyrs in Kargil.

Bhavnagar Diamond donation

The Bhavnagar Diamond Association president Vitthal Patel handed over a cheque of Rs 13.50 lakh to the CM's relief fund for the jawans and martyrs in Kargil.

Sulzer to pay Re 1 a share

Sulzer India Ltd registered a 34 per cent increase in total income to Rs 37.10 crore (Rs 20.78 crore) for the year ended December 1998. The profit after tax stood at Rs 95.86 lakh. Profit before tax was Rs 95.88 lakh compared to last year's loss of Rs 2.33 crore. Its exports went up by 249 per cent. The companydeclared a dividend of 10 per cent (Re 1 per share of Rs 10) at the annual general meeting held on Tuesday. Sulzer chairman Hans Jaeger said that the company's performance should be seen in the backdrop of the difficult market conditions.

BIL shareholders okay

The shareholders of Bayer India Ltd (BIL) have, by an overwhelming majority, approved the Scheme of Amalgamation of Jagat Chemicals Ltd (the wholly-owned subsidiary of BIL), with BIL at a recently held EGM. The scheme was approved by 99.99 per cent in terms of value and 99.97 per cent in terms of the number of shareholders present and voting in person or by proxy at the EGM held on June 24, 1999. The scheme has also been approved by the secured creditors and non-convertible debenture holders of BIL.

Sterlite redeems FCCBs

Sterlite Industries has fully redeemed its outstanding FCCBs aggregating $95.34 million. The company had raised $100 million through FCCBs in 1993 at a coupon of 3.5 per cent. As the conversion price at Rs 561.07a share was far below Sterlite's ruling market price, there has not been much conversion. Sterlite said that no fresh loans were raised to redeem the loans, and that the amount was paid off through internal accruals and securitisation of DoT receivables.

Archies announces bonus shares

The board of directors of greetings cards major, Archies Greetings and Gifts Ltd (AG&G) on Wednesday approved the issue of bonus shares in ratio of 1:1 following their excellent performance in fiscal 1998-99.