VIP Industries Board recommends 25% dividend

VIP Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 04, 2007, inter alia, has recommended a dividend of Rs 2.50 per equity share for the year 2006-07.

Further the Company has informed that, the Board has approved in-principle the proposal for amalgamation of Aristocrat Luggage Ltd and Quality Plastics Ltd with the Company and has constituted a Committee of Directors for assessing the feasibility, appointment of Valuers, recommendation of Share Exchange Ratio etc.

The stock closed the day at Rs.98.85, down by Rs.1.15 or 1.15%. The total traded quantity was 39987 compared to 2 week average of 17764. The stock hit an intraday high of Rs.104.85 and low of Rs.98.20.

Source : Equity Bulls

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