Simplex Castings Board recommends 10% dividend

Simplex Castings Ltd has announced that the Board of Directors of the Company at its meeting held on July 25, 2007, inter alia, has transacted the following business:

1. Recommended Dividend @ 10% for the financial year ended on March 31, 2007.

2. Recommended the Borrowing Limit of Rs 100,00,00,000/-, subject to the approval of shareholders in AGM.

3. Recommended the re-appointment of Directors (Shri. Shailesh A Shah & Shri. K R Choksey) liable to retire at the forthcoming AGM.

4. Recommended the re-appointment of Auditors (M/s. Taunk & Srikanth) liable to retire at the conclusion of forthcoming AGM.

The stock was trading at Rs.61, up by Rs.3 or 5.17%. The stock hit an intraday high of Rs.62 and low of Rs.59.30. The total traded quantity was 3168 compared to 2 week average of 8285.

Source : Equity Bulls

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