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Geojit Securities to issue bonus shares at 1:1 ratio 

Our Bureau  
Kochi, Dec 20: The board of Geojit Secutities Limited, a leading stock broking company, has decided to issue bonus shares at 1:1 ratio, to capitalise part of general reserve. The company will be seeking approval of shareholders at an extra-ordinary general body meeting (EGM) being convened for the purpose on January 24, 2001.

Geojit Securities Limited, a joint venture with Kerala State Industrial Development Corporation (KSIDC) had come out with a public issue in October 1995 and has been declaring enhanced dividend every year since then. For the year 1999-2000, the company reported a PAT of Rs 4.83 crore. According to a company release, it gave a dividend of 25 per cent on a paid up capital of Rs 3 crore. During the first half of the current year, the company has reported a PAT of Rs 2.25 crore indicating a growth rate of 125 per cent, the release added.

Geojit is the first brokerage company in the country to have started Internet based trading and its contribution to the company's revenue was 5 per cent, the release said. Currently, the Internet trading volume on an average is Rs 5 crore daily. According to the release, among the Indian stock broking companies, Geojit is credited with the largest pool of certified professionals working for the company.

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