Snowcem India Ltd has initiated steps for setting up of subsidiaries in Vietnam, Nepal and Bangladesh shortly for expansion of its exterior paints business outside the country. Company executive director Prakash F Nagori told newsmen that the size of investments would be determined after conducting a market survey in those countries.

Kunal Overseas bonus issue

The board of directors of Kunal Overseas Ltd have announced a 1:2 bonus issue for its shareholders. The bonus issue has been declared in view of the company's turnaround in the last year. The company plans to set up 100% export oriented units in the field of pharmaceutical and healthcare involving a combined capital outlay of Rs 17.5 crore. These diversifications are expected to add Rs 40 crore every year to the turnover from 2001-02.

Digital Equipment results on Oct 27

The board of directors of Digital Equipment (India) Ltd will meet on October 27 to consider unaudited financial results for the thirteen weeks ended September 25, the Bombay Stock Exchange said on Monday.

Sona Steering shares

Sona Steering Systems Ltd informed the BSE that it has allotted one lakh cumulative reddemable prefernce shares of Rs 100 each to Koya Seiko Company on a preferntial basis for cash at par. The preference shares carries an interest of 10 per cent and is redeemable upon the expiry of 7 years from the date of allotment.

Vorin hike in authorised capital

Shareholders of Vorin Laboratories have approved the increase in the authorised capital from Rs 7.5 crore to Rs 9 crore. It will issue and allot 18.92 lakh shares on preferential basis to Vidyat Investments.