Mumbai, April 29: Titan Industries will issue bonus shares in the ratio of one equity share for every existing share and go in for a stock split.

The Tata group company will split the equity share with a face value of Rs 10 each into 10 shares of Re 1 each.

Another Tata group company, Rallis India Ltd, announced a stock split today.

In an attempt to enhance liquidity in its shares, Rallis will split each equity share with a face value of Rs 10 into 10 equity shares of Re 1 each fully paid up.

Titan Industries has recorded a 71.9 per cent increase in net profit at Rs 430.42 crore for the three months ended March 31 compared with Rs 250.3 crore in the corresponding period of the last year.

Sales for 2010-11 stood at Rs 6,570.86 crore, an increase of 39.7 per cent over the last year.

The watch business grew 23.3 per cent to Rs 1,266.46 crore, while income from the jewellery division increased 43.5 per cent to Rs 5,027.23 crore.

On the company’s results, Titan Industries managing director Bhaskar Bhat said, “The company has moved on to a new platform of performance and future expectations.”

The directors of Titan Industries have recommended a dividend of 250 per cent.

Agrochemicals firm Rallis India has posted its highest net profit for the year ended March 31 at Rs 126 core, an increase of 25 per cent over the last year.

Sales rose 20 per cent in 2010-11 to Rs 1,047 crore.

The board of Rallis India has recommended a dividend of 110 per cent

“We have crossed the Rs 1,000-crore sales milestone and recorded the highest-ever profit after tax from operations. Our value creating crop protection solutions have been well received by farmers,” Rallis India managing director and CEO V. Shankar said.

On the company’s outlook for 2011-12, Shankar said the new unit at Dahej would become operational in the first quarter of the fiscal.