MODERN SHARES & STOCKBROK Share price

The Company was established as a Private Limited Company on01-07-1939. The Main objects at that time were to carry onthe business of Furniture making Laundering Processingetc. The Company was converted into a Public limitedCompany on 20-11-1970 and a public issue of shares was madein December 1970. The Company was mainly engaged in thebusiness of laundering and processing of clothes/linen withits plant at Kanjurmarg in Bombay and at Band Box House atPrabhadevi in Bombay. It also had various retail outletsunder the Brand Name ''BAND BOX'' to cater to individualcustomers which were subsequently sold of in 1986-87. Theprocessing and laundering divisions were sold off byFebruary 1990. The Company had also sold its part of thepremises at Band Box House.The Company had to close down its processing activitiesmainly because of labour problems. The laundering activitywhich was carried on both at Industrial as well as retaillevel had also to be divested for three reasons viz. (a) Severe competition from unorganised sector at retaillevel; (b) Creation of in-house laundering facilities bymajor hotels and flight kitchens and (c) High wage costswhich could not be passed on to customers.The Company is presently involved in fund based activitieslike investments Inter Corporate Deposits BillsDiscounting Leasing Loans syndication etc.The Company has Joint Retail Venture Arrangements with Bata(I) Ltd. and Intercraft through its outlets in Bombay. TheCompany also owns Business Centre''s in Bombay which itgives out to clientele on lease basis. The Company''s incomealso comprises of Interest/Dividend received oninvestments profit on sale on investments and/or assets.The Company is also a member of the National Stock Exchangethrough its wholly owned subsidiary MODERN SHARES & STOCKBROKERS LIMITED.