Sebi ban on traders

Mumbai, June 5: The Securities and Exchange Board of India (Sebi) today suspended four traders of Calcutta Stock Exchange for 15 days to six months, according to the irregularities they committed. The penalised members are Bubna Stock Broking Services Ltd, CP Sikaria & Co, Dhananjay Securities and NK Tiwary. CP Sikaria & Co is not entitled to carry on as a broker for six months from June 12 for failing to segregate its own funds and its clients? funds, failing to collect margins from clients and non-redressal of investors? complaints.

RBI subsidy

Mumbai, June 5:

k of India today announced that the government will provide interest subsidy of 2 per cent per annum to public sector banks and regional rural banks for short-term production credit up to Rs 3 lakh, provided to farmers at an interest rate of 7 per cent.

PFC offer

New Delhi, June 5: Power Finance Corporation today filed a draft prospectus with Sebi for its initial public offering along with sale of government equity that could collectively mop up Rs 1,500 crore. PFC is offering 15.45 crore equity shares of Rs 10 each.

Titan net

Mumbai, June 5: Titan Industries has recorded a two-fold increase in net profit at Rs 37.21 crore for the quarter ended March 31, compared with Rs 14.68 crore in 2004-05.

Indiabulls

Mumbai, June 5: Indiabulls Financial Services Limited today said foreign institutional investor Fim Ltd has bought a 36 per cent stake in Indiabulls Buildcon Ltd for Rs 15 crore.

IBP meet

Calcutta, June 5: IBP has convened a meeting of shareholders on June 29 to get their approval for its amalgamation with Indian Oil. The meeting had earlier been scheduled for June 16.

MCX pact

Mumbai, June 5: The Multi Commodity Exchange of India (MCX) and New York Mercantile Exchange (Nymex) have entered into an exclusive licensing agreement in India to launch mini-Nymex energy contracts on MCX.