An IT engineer was duped for Rs4.5 lakh for a plot of land at a prime location on Pune-Ahmednagar road. The techie got carried away by an ad. After the engineer filed a complaint at Shikrapur police station against two people who had launched a scheme ‘Vision City’, 40 more people approached the police claiming that they too have been duped. The fraudsters, Niraj Lalit Pratapsingh and Nitin Tiwari, who are now absconding, used to verify the backgrounds of customers and, accordingly, quote the rate for the plots. The rates varied from Rs3 lakh to Rs6 lakh per guntha. The total amount of the fraud has crossed
During FY14, Indag Rubber posted a net profit of Rs27.54 crore despite its flat sales. The company declared a final dividend of 65% or Rs6.5 per share
Indag Rubber Ltd reported a 10.3% higher net profit during the 12 months that ended on 31 March 2014. The tyre retreading and manufacturing company declared a final dividend of 65% or Rs6.50 per share.
For FY14, Indag Rubber said its net profit grew 10.29% to Rs27.54 crore from Rs24.97 crore while its total revenues, including sales declined marginally to Rs232.46 crore from Rs235.26 crore, a year ago period.
Indag Rubber's total assets increased to Rs133.25 crore from Rs110.76 crore a year ago period.
As on 31 March 2014, Indag Rubber promoters reduced their shareholding to 75% from 77.05%, following new SEBI norms (promoter holding should not exceed 75%). The company does not have any FII shareholding. The DII shareholding stood at 0.04%, while public shareholding increased to 24.96% from 22.95% in the same period a year ago.
In its quarter to end-March Indag Rubber said its net profit fell 3.21% to Rs6.34 crore from Rs6.55 crore while its total revenues, including sales, declined marginally to Rs55.69 crore from Rs55.97 crore a year ago period.
On 11th April, Indag Rubber hit its 52-week high at Rs337.15 on BSE.
Indag Rubber closed Friday 10% up at Rs337.10 on the BSE, while the 30-share benchmark Sensex ended the week flat at 22,628.
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