DCM issues bonus

DCM Shriram Consolidated has decided to issue to its shareholders one bonus share for every share held. The company?s board of directors has also recommended a split of every share of Rs 10 into five equity shares of face value Rs 2 each. The company?s current paid-up share capital is Rs 16.59 crore, which will go up to Rs 33.18 crore post the bonus issue and the stock split.

Indian Bank

Indian Bank has reported a net profit of Rs 136.57 crore for the quarter ended in June this year compared with Rs 118.13 crore recorded in the corresponding quarter last year. The operating profit of the bank has also improved by 23.7 per cent to Rs 195.32 crore. The bank has done an overall business of Rs 56,532 crore during the three months, which represents a 21.2 per cent jump from a year-ago figure.

RRB merger

United Bank of India sponsored four regional rural banks in Assam ? the state has five RRBs in all ? will be amalgamated into one single rural bank. These four RRBs together have 356 branches in the state covering 22 districts and doing a total business of Rs 2500 crore. For the last fiscal, these banks reported a 24 per cent growth in advances and 6 per cent in deposits.

Kinetic Kine

Kinetic Motor Company has introduced a gearless scooter, Kine, in Calcutta. Priced at Rs 27,600 ex-showroom, Kine is fitted with a 72 cc, 4.2 bhp engine and puncture-resistant tyres and is aimed primarily at students and young people. The scooter can run 55-60 kilometres on a litre of petrol.

Riddhi Siddhi

Riddhi Siddhi Gluco Biols, which had recently acquired the functional bio-polymers unit from Hindustan Lever, will use the facility as its research and development hub for development of its all products in future. The company will initially focus on developing denim grade starch.

IBM deal

IBM, in partnership with Avaya GlobalConnect and Talisma, has implemented the Customer Service Line, a customer relationship management solution for ING Vysya Bank. The CRM solution will ensure 24x7 availability of phone banking service to the bank?s customers.

Credit card

HDFC Bank has launched Titanium credit card in association MasterCard International. The interest rate on card is 1.95 per cent. The card also offers accelerated rewards programme and waiver of surcharge ? zero per cent surcharge ? across all petrol pumps in the country.

RINL Award

The RINL steel plant has bagged six of the 28 Viswakarma Rashtriya Puraskar Awards this year. RINL?s 32 employees involved in six innovative suggestions will receive the awards.