MUMBAI: The directors of Hero Honda Motors have recommended a bonus issue in the ratio of 1:1, payable from the accumulated reserves of Rs 187 crore. This will increase the equity of the company from Rs 19.97 crore to Rs 39.94 crore. The board has also recommended buy-back of shares upto the maximum of 10 per cent of the equity capital.

Deepak Nitrite

MUMBAI: The directors Deepak Nitrite have recommended a dividend of 18 per cent for the year ended March 1998, absorbing Rs 1.14 crore. Net sales of the company rose by 23 per cent to Rs 153.69 crore from Rs 125.18 crore. The gross profit soared to Rs 12.63 crore from Rs 2.06 crore. The company has earned earned a net profit of Rs 5.84 crore after adjusting extraordinary items and prior year's adjustments of Rs 1.29 crore.

Titan Industries

MUMBAI: Titan Industries has cut the dividend to 25 per cent for the year ended March 1998 from 33 per cent paid last year. The turnover grew from Rs 411.33 crore to Rs 445.22crore during the year, an increase of 8 per cent. Operating profit at Rs 16.24 crore is marginally lower than last year's profit of Rs 17.67 crore (after adjusting last year's extraordinary income of Rs 10.13 crores from the sale of Timex shares).

Jewellery council

MUMBAI: The Jewellery Product Development Centre, of the Gems & Jewellery Export Promotion Council is organising a Gold Technology Symposium in association with World Gold Council on June 29 at Y B Chavan Auditorium, Mumbai.