Bizbits

The company, which posted a 30 per cent increase in net profit at Rs 2214 crore during 1998-99, had apparently favoured a 1:2 bonus issue before coming up with a domestic issue for part-disinvestment of government equity.

Officials explained that lack of liquidity had hampered trading of the IOC scrip and the present price was not a real indicator of company8217;s strength. Therefore, the bonus issue could increase the floating stock by half to about 5.5 crore shares, which could be easily traded, they said. IOC staff and financial institutions hold about nine per cent of the company8217;s stock at present.

Citibank card

MUMBAI: Citibank NAhas announced the launch of its international gold card. Customers can now use this card in 1.6 crore merchant outlets and in thousands of ATMs across the world, including India. The charges would be billed and payable in Indian rupees.

While retaining all the benefits of a domestic Citibank gold card, unique international benefits have been added to suit the needs of business and holiday traveller at no additional cost. The cardholder is entitled to several benefits including 7 discount on international tickets and three per cent discount on domestic tickets purchased from international travel house member of the ITC group.

Rediffusion-DYamp;R

MUMBAI: Rediffusion-DYamp;R Brand Communications has won the prestigious quot;campaign of the Yearquot; gold and silver at the Big Bang Awards of Advertising Club of Bangalore. Rediffusion walked away with a total haul of four awards, two gold and two silver, at the Big Bang Awards. The BPL TV film quot;Anything for Cricketquot; and the BPL 80:20 refrigerator printadvertisement respectively won the gold and the silver as the Campaign of the year8217;. Rediffusion8217;s second gold came in the TVC durable category from the quot;Gypsyquot; TV film on Maruti8217;s service network. The second silver for Rediffusion was won in radio under 30 second spot by the Postman spot.