Orient Tiles to issue bonus shares in the ratio of 5:4

New Delhi, Dec 27 (UNI) Orient Ceramics and Industries Ltd today said the shareholders of the company has approved the issue of bonus shares in the ratio of 5:4 and an increase in authorised Share Capital from existing Rs 10 crores to Rs 15 crores and consequent changes in the Memorandum and Articles of Association of the company.

The company further informed that the board has fixed January 16, 2007, as 'Record Date' to ascertain the entitlement of the Bonus Shares.

The company's equity shares are currently listed on the Bombay Stock Exchange and the company proposes to list its shares on the National Stock Exchange as well.

''Orient is aggressively expanding its product portfolio with long term contract manufacturing agreements both within India and China,'' said Orient's VP (Sales and Marketing) Sanjay Monga.

He said within this fiscal, the company is expected to add about 20 per cent of its top line via outsourced products including ceramic, vitrified tiles and bathroom fittings.

The company has a which manufacturing facility at Sikandrabad, UP and manufacturing unit operates with a production capacity of 27,000 sq mt per day or 9.75 million sq mt per annum.

UNI SRS PKS PM1832