At board meeting held on 09 November 2016
Jamna Auto Industries announced that the Board of Directors of the Company at its meeting held on 09 November 2016, inter alia, has taken the following decisions:1. Approved re-appointment of R. S. Jauhar as Executive Vice Chairman of the Company, subject to the approval of shareholders.
2. Approved setting up of a plant in Indore under a subsidiary.
3. Approved manufacturing of a new product i.e. Stablizer Bars.
4. Approved declaration of interim Dividend of Rs. 1.50 per equity shares of Rs. 5 each. Interim Dividend will be paid on or before 09 December 2016.
Further, the ICRA has reaffirmed the rating of the Company for Lines of Credit on the long-term scale at [ICRA] AA- (pronounced ICRA double A minus) and on short term scale at [ICRA] A1+ (pronounced ICRA A one plus). Outlook on the long-term rating is stable. ICRA has also assigned the rating for commercial paper programme of the Company at Provisional [ICRA] A1+.
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