The board meeting also approved the appointment of K G Tendulkar, executive director (operations) of the company, as deputy managing director with effect from September 29, 2005.
"S K Fotedar, president (construction), has been appointed as additional director and whole-time director designated as executive director and president (construction) of the company for three years effective September 29, 2005," the release added.
An extraordinary general meeting of shareholders will be held on October 28, 2005 to approve the above proposals, the release added.
The stock has moved up 9% (Rs 90) to Rs 1,008 on the BSE with a volume of over 97,000 shares.
