Silver prices tumble

New Delhi, April 14: Silver experienced a free-fall across the board today in line with a similar trend in global markets and recorded a historic hefty one-day fall between Rs 1,300 and Rs 790 per kilo as stockists off-loaded in a big way to avoid further losses. Silver lost Rs 1300 in Chennai at Rs 10,965 per kilo, while in Mumbai it dropped by Rs 790 to Rs 11,195 per kilo. Gold also toppled down and closed with a loss between Rs 180 and Rs 110 per 10 gram.

Cognizant move

Chennai, April 14: The board of directors of Cognizant Technology Solutions Corporation has declared a two-for-one stock split on its capital shares in the form of a dividend. The stock-split recapitalisation reflects the board’s confidence in the company’s future prospects, according to president and CEO Lakshmi Narayanan.

Trade norms

New Delhi, April 14: The country has favoured a gradual approach to drawing up of multilateral trade rules, as it would be in the best interest of the developing countries, according to department of commerce special secretary S. N. Menon.

Indo Rama net

New Delhi, April 14: Indo Rama Textile Ltd has posted a net profit of Rs 9.25 crore for 2003-04, a growth of 17.68 per cent over the previous year. The company’s net profit for the fourth quarter has, however, fallen by 24.95 per cent to Rs 5.68 crore. Indo Rama has announced a dividend of 15 per cent.

Britannia CFO

Bangalore, April 14: Britannia Industries Limited has appointed N. Shridhar as its new chief financial officer (CFO).