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Our Bureau

Hyderabad, May 29

The board of directors of Nagarjuna Construction Company Ltd (NCC) has recommended issue of bonus shares to its shareholders including the GDR holders in the ratio of one bonus share of Rs 2 each for every existing share of Rs 2 held. The board at its meeting on Monday also recommended an equity dividend of 80 per cent for the fiscal ended March 2006 as against 60 per cent paid in the previous fiscal. Further, the company has informed the stock exchanges that its board has accorded approval for increasing the investment limits by FIIs in the equity to 49 per cent from the existing 24 per cent.

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