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Business Briefs

HDFC bonus proposal

Mumbai, Oct. 10: The board of Housing Development Finance Corporation Ltd (HDFC) will consider proposals to issue bonus shares and buy-back of 5 per cent of its equity capital, subject to regulatory clearances, on October 17. The board would also take on record unaudited results for quarter ended September and approve financial results for the first half, HDFC informed the Bombay Stock Exchange.

Jessop selloff

Calcutta, Oct. 10: The Calcutta High Court today extended the stay on handing over of public sector Jessop and Co to Ruia Cotex Limited till November 22. Justice Kalyan Jyoti Sengupta fixed the case for hearing on November 14.

Call money

Mumbai, Oct. 10: The Reserve Bank of India has said primary dealers will be permitted to lend up to 25 per cent of their net owned funds, calculated on average basis, in the call money market.

Allahabad Bank

New Delhi, Oct. 10: Calcutta-based Allahabad Bank said it will adopt a wait-and-watch policy on the proposal received from Oriental Insurance Company, a state-run general insurance firm for distribution of the latter’s non-life insurance products.

Sebi order

Mumbai, Oct. 10: Sebi said the merchant bankers and corporates involved in the takeover of a company will have to maintain records and furnish documents in the amended standardised format.


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