Indoco Remedies board announces 62.5 pc dividend
Mumbai: Indoco Remedies has informed BSE that the board of directors at its meeting held on August 10 has proposed a dividend of 62.50 per cent for the financial year 2005-06.
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SEBI to publish names of unqualified 'professional directors'
Bangalore: Market regulator Securities and Exchange Board of India (SEBI) said it will soon publish the names of those people who have joined the board of some companies as 'professional directors' without meeting the stipulated guidelines to occupy those posts.

According to Sebi chairman, M Damodaran the so called professional directors on the boards are not professional directors in terms of a director (finance) or director (materials) or director (human resources) but men and women who have made it their profession to be directors on boards. He said that these people have joined the boards without owning a single share and making any effective contribution to the company.
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NIEL postpones IPO launch
Ludhiana: Nahar Industrial Enterprises (NIEL) has postponed the launch of its Rs200 crore Initial Public Offer (IPO) until next year. The IPO was expected to be launched in September this year. The company said the uncertainty and volatility in the Indian equity market has led to deferment of the IPO launch. The textile company planned to raise Rs200 crore from the public issue, which would be spent to increase the production capacity of denim and other garments under the Monte Carlo brand.
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Jagran may sell radio stake to Irish media company
Mumbai: Media group Jagran may sell a 20 percent stake in its radio arm to Irish company Independent News & Media Plc. The group's radio venture, Shri Puran Multimedia Ltd., has 8 licences for FM radio channels in India and plans to launch stations covering them by March 2007. The radio company is awaiting Indian government approval for the stake sale. Independent already has a little more than 20 per cent stake in Jagran's group's publishing arm Jagran Prakashan Ltd, which publishes India's popular daily newspaper, the Hindi-language Dainik Jagran.
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