The Telegraph
Since 1st March, 1999
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Business Briefs

Floating rate gilt auction

New Delhi, May 14:The government has announced the sale of floating rate bonds of 11-year tenure for a notified amount of Rs 5,000 crore through auction using the uniform price format. The bonds will carry an interest rate, calculated at a spread of two decimal places per annum, which will be decided in the auction on a variable base rate. The auction will be conducted by the Reserve Bank on May 19.

Sebi penalty

Mumbai, May 14:Sebi can now impose a penalty up to Rs 1 crore on companies failing to redress investor grievances. It has directed 24 companies, including Mafatlal Finance, PAL Peugeot and Pentafour Products to redress investors’ grievances.

Edible oil

New Delhi, May 14:The government today slashed the base price at which import tariff is imposed on palm oils and crude soya oil by $ 34-63 a tonne in line with international prices.

Apollo Tyres

Mumbai, May 14:Apollo Tyres has bought back 36.9 lakh equity shares, belonging to Harshad Mehta, at Rs 90 per share for cancellation.

Peerless plan

Calcutta, May 14:Peerless General Finance & Investment Company today launched its Quick Return Bond, which is a fixed-deposit scheme for just one-and-a-half-years. The minimum deposit amount is Rs 2,000 and the bond offers an effective yield of 6 per cent along with free accidental death insurance cover.

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