Vinati Organics Board recommends 12% dividend

Vinati Organics Ltd has announced that the Board of Directors of the Company at its meeting held on May 31, 2007, inter alia, has recommended the payment of dividend of 12% i.e. Rs 1.20 per equity shares for the financial year 2006-2007.

Further the Company has informed that, to oater higher exports demand, the Company has undertaken expansion of IBB (isobutyl Benzene) plant to increase the capacity to 12000 TPA from 10000 TPA and the Company is also planning to increase existing capacity of ATBS (2-Acrylamido 2 Methyl propane Sulfonic Acid) from 2500 TPA to 8000 TPA.

The stock closed the day at Rs.40.50, up by Rs.0.15 or 0.37%. The stock hit an intraday high of Rs.41 and low of Rs.40.50. The total traded quantity was 3500 compared to 2 week average of 3126.

Source : Equity Bulls

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