MUMBAI: The directors of Ceat Ltd have recommended a dividend of 20 per cent for the year ended March 1997. Income during the year amounted to Rs 1319.35 crore against Rs 1726.81 crore for 18-month period last year. The company has earned a gross profit of Rs 19.42 crore against Rs 49.82 crore. The amount available for appropriation after adjustment amounted to Rs 28.27 crore against Rs 35.74 crore.

SHCIL chief

MUMBAI: B Virupaksha Goud, chief of the merchant banking division of Industrial Development Bank of India (IDBI), has taken over as MD of Stock Holding Corporation of India Ltd with effect from August 7.

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