HINDUSTAN DIAMOND PRESENTS DIVIDEND CHEQUE TO JAITLEY

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Hindustan Diamond Company Private Limited (HDC), has registered a record
turnover of Rs. 960 crores in 2002-03, an increase of 74% over the
previous year. In it's silver jubilee year, the company has declared 25%
dividend to its shareholders. HDC is the largest supplier of rough
diamonds to small and medium manufacturers-exporters of polished diamonds
in India.

The dividend cheque for Rs. 70 lakhs was presented by Shri V. Madhavan
Nair, CMD, HDC to Shri Arun Jaitley, Minister of Commerce & Industry and
Law & Justice here today. Government of India holds 50% shares in the
company.