Briefly Business

The Indian Railway Finance Corporation will issue tax-free,secured,redeemable,non-convertible bonds of Rs 5,000 crore through...

IRFC and NABARD to issue bonds

NEW DELHI: The Indian Railway Finance Corporation IRFC will issue tax-free,secured,redeemable,non-convertible bonds of Rs 5,000 crore through a public issue or otherwise by March 31,2010. The bonds will pay interest between 6.50 per cent and 7.25 per cent per annum and the interest income will be exempt from income tax. NABARD will also be issuing 10-year zero-coupon Bhavishya Nirman Bonds by the end of this fiscal year. NABARD will be issuing 95,20,000 bonds with maturity value of Rs 20,000 each.

Jubilant FoodWorks lists at 11 pc premium

MUMBAI: Jubilant FoodWorks,which runs the Domino8217;s Pizza chain in India,was on Monday listed at a premium of 11.44 per cent at Rs 161.60 on the Bombay Stock Exchange against its issue price of Rs 145. The company said that it plans to expand both in India and abroad. The scrip opened at Rs 161.60 and scaled a high of Rs 198.50,up 37 per cent over its issue price on the BSE.

IIFCL records twofold jump in profit

NEW DELHI: State-owned India Infrastructure Finance Company Ltd IIFCL on Monday posted nearly two-fold jump in its net profit at Rs 152 crore for the nine-month period ended December 2009. The company had earned a net profit of Rs 82 crore in the same period previous fiscal.

Poly Medicure PAT zooms 592 pc in Q3

NEW DELHI: Poly Medicure Ltd,manufacturers of medical devices and disposables under the brand name,Polymed,has announced its Q3 results for quarter ending December 31,2009. The company reported net sales during the quarter at Rs 3,397.32 lakh as against Rs 2,776.36 lakh in the corresponding quarter of the previous year.

No hike in FII bond investment ceiling

MUMBAI: The government does not have any plan to hike the cap of foreign investments in bonds as the response from investors so far did not warrant such a move,a top finance ministry official said. The existing limit is not being used up for a long time8230; there is no proposal to increase the FII debt limit, the official said.

India can play key role,says OECD

NEW DELHI: New Delhi could play a leading role in the proposed global task force on tax and development,being set up by OECD to help the developing world benefit from the international tax environment. We will discuss New Delhis possible role with its administration to establish if it is interested8230; If India joined,they would take a leading role in sharing their experience and helping to achieve objectives, an OECD official said.

No change in India plans for Prius

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NEW DELHI: Toyota will not change plans to the Prius to India,an official of its subsidiary said,amid reports of the firm planning a global recall of the model.