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Corporate briefs

ICI India to pay 55% interim

NEW DELHI: The Board of Directors of ICI India Ltd on Friday declared an interim dividend of 55 per cent, i.e Rs. 5.50 per equity share of Rs. 10 each for the financial year ended March 31, 2000.

A statement issued by the company said the dividend will become due and payable on or after April 25, 2000, to shareholders whose names appear in the Register of Members as on that date or such other date that may be agreed as `record date' with the Calc utta, Mumbai and National Stock Exchanges. _ Our Bureau

Ramco Ind, Rajapalayam Mills declare interim

CHENNAI: The board of directors of Ramco Industries Ltd has declared an interim dividend of 50 per cent for the year 1999-2000. The company had declared a total dividend of 50 per cent for the previous fiscal 1998-99.

The board of directors of Rajapalayam Mills Ltd have declared an interim dividend of 30 per cent for the year 1999-2000. The company had declared a total dividend of 30 per cent for the previous fiscal 1998-99.

Chola Triple Ace announces dividend

CHENNAI: Chola Triple Ace, of Cholamandalam Mutual Fund, has declared a dividend of five per cent or 50 paise per unit. Chola Freedom Income Scheme has also declared a dividend of 5.50 per cent or 55 paise per unit.

According to a press release, unit holders of the `Regular Plan' whose names appear in the register of unit holders of the respective schemes as on March 24 would be eligible for the dividend.

The release said Chola Freedom Technology Fund's mobilisation has crossed over Rs. 100 crores since it was converted to a technology-oriented fund in early March 2000.

Cholamandalam Mutual Fund is a joint venture between Cholamandalam Investment and Finance Company Ltd of the Murugappa group and Cazenove Fund Management of the UK. _ Our Bureau

SHCIL launches Stockdirect Net facility

MUMBAI: The Stock Holding Corporation India Ltd (SHCIL), in association with Sangli Bank, has launched Stockdirect, a facility to route sell/purchase orders through the Internet.

The facility is available at the bank's Andheri branch, Mumbai, according to a press release.

Investors who do not have access to computers and Internet can avail of this facility using the Request Transmitting Machines (RTMs) installed in bank branches and select places.

The facility is currently available at seven bank branches in Mumbai, Rajkot, Chandigarh, Calcutta, Hyderabad and Delhi. Nearly 450 account holders are now availing of this facility, the release said. _ Our Bureau

Indal scrip marked ex-dividend

CALCUTTA: Shares of Indian Aluminium Co Ltd (Indal) will be marked ex-dividend from Friday (March 24), the Calcutta Stock Exchange has informed members.

These shares will remain in the no delivery period from settlement number 2001101 to 2001103.

It may be pointed out that around 74.6 per cent stake in Indal is being acquired by Hindalco Industries Ltd in a Rs. 1,008.2-crore deal.

According to CSE members, news of the deal has triggered major buying interest in Indal on Lyons Range.

Indal stock was one of Thursday's top gainers, closing at Rs. 129.60 on the CSE, up from the previous close of Rs. 120.10, representing a 7.91 per cent gain. _ Our Bureau

Shonkh Tech to offer ESOP

BANGALORE: Shonkh Technologies has decided to offer stock options to its employees. Under the Employee Stock Option Scheme (ESOP), the company has earmarked 10 lakh equity shares for all its employees at all levels, which is more than eight per cent of t he company's paid-up equity.

The ESOP scheme has been drafted and finalised by PricewaterhouseCoopers, a company release said. _ Our Bureau

Nominations invited for Chemtech-Cew awards

MUMBAI: Chemtech Foundation, announcing the Chemtech-Cew Awards for 2000, has invited nominations for excellence in Chemical, Process and Allied Industries, a press release has said.

The three awards categorized in recognition of Individual, Corporate and Institutional Initiative in Economic and Scientific Development are: Hall of Fame Award (for an individual chosen for his lifetime contribution), Achiever of the Year Award (for the best contribution to chemical and allied industries) and Outstanding Contribution Award (for an individual from academic or scientific institution and R&D laboratories for outstanding contribution in a 12-month period. _ Our Bureau

Safety award for Sudarshan Chem

PUNE: Sudarshan Chemicals Industries Ltd has won the Best Safety Performance Award for its Pune plant for the sixth time consecutively.

More than 150 companies from Pune and Satara districts had competed for the award this year, a company press release said.

The company also observed safety week, during which safety banners were displayed throughout the factory and `spot the hazard' contest was held for the laboratory chemists, the release added. _ Our Bureau