IDFC launches tax saving infrastructure bonds

IDFC infrastructure bonds issue opens on 21 November 2011 and closes on 16 December 2011

IDFC has launched 80CCF infrastructure bonds which offer 9% annual interest rate.

The issue opens on 21 November 2011 and closes on 16 December 2011. After the lock in period of five years, the bond will list on the NSE and BSE. Face value of one unit of the infrastructure bond is Rs5,000.

The maturity period is ten years for the bond with a buy back option after five years of the allotment of IDFC infrastructure bond. The lock in period of the bond is five years and after five years the investor can redeem the bond by using buy back option.

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Nissan, SBI tie up to provide easy finance options

SBI will offer Nissan consumers easy financing options with an interest rate up to 100 basis points lower than the current market rate

Nissan Motor India Pvt Ltd has announced its strategic tie-up with the State of Bank of India (SBI) to reach out to prospective customers across the regions with easy finance options. Under the agreement, SBI will currently offer Nissan consumers easy financing options with an interest rate up to 100 basis points lower than the current market rate. SBI will offer Auto loans to Nissan customers at a rate of 11.25% (floating) and 11.75% (fixed), which are 75 to 100 basis points lower than the market offering of other banks.

Chief general manager- SME of SBI, Manas Kumar Nag said, “Through this partnership, SBI offers Nissan dealers a web based platform, which is capable of being fully integrated with the corporate enterprise resource planning (ERP) system and provide real-time online transfer of funds.”

In addition to the retail financing, the bank has also offered dealer funding which will also cover real time invoice presentation and payment through a secured electronic platform certified by VeriSign. It also offers integration of dealer networks with SBI’s transaction network on real-time basis.

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BSE F&O turnover hits record volumes of Rs1,600 crore

Speaking on the development, BSE managing director and CEO Madhu Kannan said, “BSE’s efforts over the last couple of years in the derivatives segment are paying off indicated by the widespread participation. More than 350 members have registered for LEIPS with over 120 members participating in the trading daily”

Mumbai: The Bombay Stock Exchange’s (BSE) Futures & Options (F&O) turnover hit a high of Rs1,600.10 crore no Thursday, reports PTI.

The previous highest volumes in the premier stock exchange’s derivative segment was Rs1,509.80 crore on 13 February 2008, a BSE statement said here.

Derivatives volumes on the Sensex (India’s bellwether index traded on BSE) have also shown steady growth in volumes since the launch of the incentive programme, it said.

Sensex Futures & Options also touched a record high of turnover volume of Rs1,535.40 crore yesterday. In the Index Futures segment, Sensex Futures already has a daily market share of 6%-8%.

In line with the framework prescribed by the Securities and Exchange Board of India (SEBI) and global best practices, BSE in September rolled out LEIPS (Liquidity Enhancement Incentives Programmes) initiative. The programme is aimed to stimulate broad based participation and help BSE become an advanced, more liquid and inclusive marketplace.

Following the successful completion of LEIPS Phase-I, BSE had launched LEIPS Phase-II on 26th October.

Speaking on the development, BSE managing director and CEO Madhu Kannan said, “BSE’s efforts over the last couple of years in the derivatives segment are paying off indicated by the widespread participation. More than 350 members have registered for LEIPS with over 120 members participating in the trading daily.”

BSE F&O turnover has steadily increased since its launch and this has helped BSE increase the market share in the derivatives segment, he added.

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