The board of directors of Rama Steel Tubes on Wednesday approved and recommended issue of four bonus shares for every one equity share held as on a record date to be determined. The board also approved sub-division of the equity shares of the company to the face value of ₹5 from the current face value of ₹10. Notice to shareholders of the company of an extraordinary general meeting would be considered. Shares of Rama Steel Tubes, after hitting a high of ₹934.50, edged down 1.68 per cent at ₹909.85 on the NSE.

Uttam Sugar Mills has informed the exchanges that the accumulated losses of the company as of June 30, 2015, amounting to ₹282.90 crore have resulted in erosion of more than 50 per cent of the company’s peak net worth during the four financial years immediately preceding the financial year. In accordance with rules, the company has reported this development to the Board for Industrial and Financial Reconstruction (BIFR). The board of the company has taken note of the development. The stock slipped 0.15 per cent at ₹25.9 on the NSE.

MIC Electronics has informed the exchanges that a consortium consisting of the company as lead bidder with Kiran Impex Pvt Ltd participated in a tender floated by Energy Efficiency Services. The consortium has received a letter of award from Energy Efficiency Services for design, manufacture, supply, testing, installation (retrofit), and commissioning of 7,46,665 numbers of LED streetlights in various municipalities of Rajasthan. Total value of the tender is ₹15.56 crore. The company has also received orders worth ₹7 crore from Andhra Pradesh for export of LED displays, true colour LED displays to Railways and LED street lighting. Shares of MIC Electronics gained 1.1 per cent at ₹22.8 on the NSE.

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