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The Berger Paints’ board has okayed a proposal to sub-divide its equity shares of face value ₹2 each into shares of ₹1 each. Berger said it would seek shareholders’ approval for altering the 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-tonne Hindupur plant in Anantpur district in Andhra Pradesh in the July-September quarter. During the quarter, the company reported a net profit of ₹59.42 crore against ₹55.53 crore in the corresponding quarter last fiscal.
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