Ashok Alco Chem Ltd has recommended final dividend @ 10% i.e. Rs. 1/- per equity share of Rs. 10/- each, subject to approval of the Members of the Company at the ensuing Annual General Meeting. The said dividend, if approved by the Members, is proposed to be paid within 30 days of ensuing Annual General Meeting.
As Food Subsidy Bill is on the verge of official launch, India's Finance Minister P Chidambaram is started all acts of preparing 30% Indians (non-beneficiaries of food subsidy bill) to face food price rise and pay for rest 70%. Though entire theme looks a political drama set for 2014 elections, no party will oppose to this move as it would cut down the prospects of their winning.
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