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Cummins India Ltd's board of drectors on August 4 recommended issue of bonus shares in the ratio of 2:5.
Dynavest India Pvt Ltd, one of the promoter group companies of Max India Ltd (Dynavest), which had remitted Rs 173.4 crore — being the full consideration for subscription to 2,000,000 warrants of Rs. 867 each with an entitlement to subscribe to four equity shares of Rs. 2 each at a premium of Rs. 214.75 per equity share — was on August 4 allotted 80,00,000 equity shares on conversion of warrants. With the allotment, the paid-up share capital increased to Rs 52.91 crore and the promoters' holding increased to 37.03 per cent on the enhanced capital.
Micro Technologies (India) Ltd, a developer and manufacturer of security products, has expanded production by setting up an additional unit at Baddi in Himachal Pradesh through Micro Secure Solutions Ltd, to meet the growing demand for security and communications products, both in the domestic as well as the export markets.
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