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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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