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Berger Paints India Ltd Board on Tuesday approved proposal for sub-division of equity shares of Rs 2 each into Re. 1 each. Berger said it would seek shareholders' approval for altering memorandum and articles of association of the company to carry out the stock split proposal through postal ballot or e- voting.
Berger said it begun commercial production at its 80,000 tonnes Hindupur plant in Anantpur district in Andhra Pradesh in the July-September quarter. During the quarter, the company recorded a net profit of Rs 59.42 crore against Rs 55.53 crore in the corresponding quarter of last fiscal.
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