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Electsteel plans IT foray
UNITED NEWS OF INDIA
Calcutta, July 26: Ductile iron pipe manufacturer Electrosteel Castings Limited is planning a foray into information and technology business. In the present era of information technology it will be in the interest of the company to provide for undertaking the business of computer software and other related information technology business, said S Y Rajagopalan, director (finance) and secretary.To give effect to this proposal, the Rs 526.53 crore company is contemplating to make a provision in its memorandum of association which does not have any direct provision for undertaking such business at present, he said. The company will move a special resolution seeking approval of shareholders to add three new clauses in the memorandum of association at its annual general meeting this Thursday in Orissa. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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