Bizbits

Bizbits

Mirza Tanners plans 1:1 bonus
NEW DELHI: Mirza Tanners Ltd (MTL), manufacturers of red tape shoes, will reward its shareholders with an issue of millennium bonus share in the ratio of 1:1. MTL, had earlier issued 1:1 bonus shares in 1997 increasing the capital from Rs 4.07 crore to Rs 8.14 crore. With the issue of this new bonus issue, the capital of MTL will increase to Rs 16.28 crore, a company release said here today.

The decision of rewarding the shareholders with the bonus issue was taken in the board meeting held at Kanpur. The board has also recommended an interim dividend of 55 per cent for the current financial year ending March 31, 2000, the release said.

Govt to sell 50% stake in htl Ltd
NEW DELHI: Government has decided to sell 50 per cent equity in state-owned telecom equipment company HTL Ltd and is scouting for a strategic partner to buy the stake. It has appointed KPMG India Ltd as the global advisor for disinvesting HTL stake and January 24 has been fixed as the lastdate for expression of interest for buying the 50 per cent stake, an official release said.

Number of cos registered in Nov falls
NEW DELHI: The number of companies registered in November 1999 declined marginally to 2,003 compared to 2,024 in the corresponding period in 1998 and 2,191 in October 1999. Out of the total number of companies registered during the month, 1,994 companies were limited by shares besides seven companies were registered as gurantee companies, an official statement said today.

The highest number of companies registered during the month were from Maharashtra (448) followed by Delhi (380). The state of Tamil Nadu registered 229 companies followed by Andhra Pradesh (158), West Bengal (137) and Gujarat (115).