Record Date – Hindustan Dorr-Oliver Bonus Issue
Hindustan Dorr-Oliver inched ahead after the company fixed 17 March 2010 as the record date for the purpose of bonus issue in the ratio of 1:1. The stock hit a high of Rs 216 and a low of Rs 207 so far during the day. The stock had hit a 52-week high of Rs 209 on 4 March 2010 and a 52-week low of Rs 31.50 on 6 March 2009. The small-cap construction company has an equity capital of Rs 7.20 crore. Face value per share is Rs 2.
This is the company’s fifth bonus issue. So far, Hindustan Dorr has issued 1:5 bonus issue in 2006, 1:1 bonus issue in 1989, 1:1 bonus issue in 1986 and a 4:5 bonus issue in 1982.
Earlier this week, the company had announced its acquisition of UK-based large equipment maker Sheffield-based DavyMarkham. Terms of the deal that marks its entry into heavy engineering were not disclosed.
The UK firm is involved in the design, manufacture and assembly of large equipment used in mining, power generation, oil, gas and nuclear sectors. Hindustan Dorr-Oliver will invest in DavyMarkham for new plants and equipment and expand the UK firm’s sales and marketing infrastructure into India, it said on Tuesday.
Hindustan Dorr-Oliver, owned by IVRCL group is a total engineering solutions provider in the field of pulp & paper, fertilizers, mineral beneficiation and all kinds of water & waste treatment plants. IVRCL Infrastructure & Projects holds 55.17% stake in the company (end December 2009).
Source: stock market news sites
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