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