Bizbits

1:1 bonus from Archies GreetingsMUMBAI: Archies Greetings amp; Gifts, the premium greetings card company, is coming out with a 1:1 bonus...

1:1 bonus from Archies Greetings

MUMBAI: Archies Greetings amp; Gifts, the premium greetings card company, is coming out with a 1:1 bonus issue. The issue, which is subject to approval of the shareholders, will enhance the company8217;s equity base to Rs 6.5 crore. The stock closed at Rs 1,193 on the National Stock Exchange NSE, up from Rs 1,147 on Tuesday. quot;The company will announce its audited results later this month and we8217;re targeting a sales turnover of Rs 60 crore for 1998-99, as against Rs 46 crore in the previous year,quot; managing director Anil Moolchandani said.

Thapar to infuse Rs 50 cr in JCT

NEW DELHI: Thapar group company JCT Electronics has decided to infuse fresh equity worth Rs 50 crore within the next two months, as part of a major financial restructuring exercise. The company is planning to come out a rights issue for the purpose, and has outlined several other measures to achieve a Rs 150 crore cash surplus by the year 2005.

SRG Infotec ties up with BITS

MUMBAI: SRGInfotec, the flagship company of Delhi based SRG group having a net worth of over Rs 300 crore, has entered into a strategic alliance with Bureau of Information Technology Services India Ltd BITS, a leading computer education company with more than 100 centres across the nation as well as abroad. The alliance between the two companies entails pooling of mutual resources towards developing qualitative education material continuous assessment of the needs of the education industry and supporting each other8217;s programmes to further the need of the computer education system.

Bank of India launches Navy Card

MUMBAI: S Rajagopal, chairman and managing director, Bank of India formally issued the quot;BOI Navy Cardquot; MasterCard to the senior officers of Western Naval Command. Bank of India launched this card with MasterCard international last year, in recognition of the services of the Indian Navy personnel. This exclusive MasterCard will be accepted at the Indian Naval Canteen stores, Indian Naval Commandmesses and naval institutes to provide maximum benefits to the officers. Besides, the card also has all the benefits of a MasterCard including acceptance at over one lakh MasterCard acceptance locations in India and Nepal and cash advance facility.

Today8217;s sales set to touch Rs 100 cr

MUMBAI: Today8217;s Writing Products Ltd, one of the fastest growing pen manufacturing companies, has signed Bollywood star Salman Khan for promoting its diverse product range. Rajesh Drolia, chairman and managing director, said the group8217;s turnover for the year 1997-98 was over Rs 60 crore of which 15 per cent accounted towards exports. The company is planning to cross the Rs 100-crore mark by the end of the millennium as a result of recent technical collaborations with Mon-Ami Korea for speedwriting pens and Aubex Japan for fineliners pens.