The Financial Express -- News

Friday, August 22 1997

P&G declares 1:2 bonus, maintains dividend

Procter & Gamble India board has recommended a bonus issue in the ratio of one equity share of Rs 10 each for every two shares held. The company has maintained its dividend at Rs 7.5 per share. The equity of the company at Rs 14.43 crore will rise to Rs 21.65 crore in the current year.

Mahindra & Mahindra tractor sales up 25%

Mahindra & Mahindra (M&M) has announced a significant improvement in its tractor business and a better growth in automobiles in the current year. While tractor production rose 32.48% from last year to 27,115 units during the April 1 to August 20 period, sales rose 25.33% to 25,523 units.

Burroughs Wellcome H1 net up 65% to Rs 6.04 crore

Burroughs Wellcome India has registered a 65% increase in net profit to Rs 6.04 crore for the six months ended June 30, 1997, from the same period of last year. This is despite net sales rising only a marginal 3.26% to Rs 81.99 crore.

IBA asks five banks to start separate wage talks with trade unions

West Coast Paper likely to buy back shares