STATE BANK-Record Profits

up two more units, one at Daman for manufacture of texturised and twisted yarn and the other at Mangrol near Sural for manufacture of texturised, twisted and dyed yarn. The total cost of both these projects is estimated at Rs 15 crore. To meet the cost of these projects and to augment the long-term resources of the company, the directors propose to issue 'rights' shares in the ratio of 1:1.