Ramsarup Industries declare interim dividend of 15 per cent

Mumbai, Mar 16 (UNI) Ramsarup Industries, one of the largest makers of steel wires, declared an interim dividend of 15 per cent, which is Rs 1.5 per share on 17,504,42 shares of Rs 10 each for the next financial year.

The record date has been fixed as March 23 for the purpose of payment of the interim dividend, a company release here today said.

The dividend follows a jump in exports of Rs 58 crore against Rs 14 crore in the same period last year. The performance of the company in the international market has been appreciated through repeat orders from Africa for Bailing wires and for a project in Nepal, aided by a Japanese company.

The TMT bar expansion project in Shyamnagar will produce an addition of 90,000 MTs. Ashish Jhunjhunwala, Chairman and Managing Director, Ramsarup Industries, said ''In order to consolidate its position in the wire industry catering to power and infrastructure sectors, Ramsarup will put up LRPC and other special grades of wire facility at both its Kalyani plant and the new project at Durgapur, with an installed capacity of 79,000 MTPA.'' UNI