Tax break for Esops, drug firms, VCs
Finance minister Yashwant Sinha on Wednesday announced more sops for the knowledge-based sectors by deferring tax liability on employee stock options to the time of sale of shares, granting venture capital funds a complete pass-through status and a 10-year tax holiday for R&D-focused pharma companies.

HDFC net leaps 20.3 per cent to Rs 401.81 crore
The Housing Development Finance Corporation Ltd (HDFC) has registered a 20.3% rise in its net profit to Rs 401.81 for the financial year ended March 31, 2000 against Rs 333.90 crore in the corresponding period last year. Income from operations rose 15.22% to Rs 2,012.86 crore from Rs 1,746.87 crore.

Reserve Bank pegs 10-yr bond yield at 10.52%
The Reserve Bank of India (RBI) on Wednesday set a cut-off price of Rs 110.60 for the 12.25% at its auction of 12.25% 2010 government bonds. The yield works out to 10.5213%.


  Executive Briefing
  Move to finalise transfer pricing mechanism soon
  Euro at record low, weakens against major currencies too
  HSBC to buy Chase branches in Panama
  `Mr Yen' rules out US stock crash in 2 years
  Survey cites fund shortage for poor insurance penetration
  10-year tax holiday to see flurry of pharma, biotechnology R&D subsidiaries
  Boost to wealth creation for individuals, says IT industry
  Effective interest rate for housing loans to be below 9%
  Software exports estimated to rise by 70%
  Ground realities sidelined in economic policies, says Opposition
  Move to protect domestic agriculture industry
  Remote metering of power soon
  A clarification
  GTB signs pact with portals for Net service
  ICICI kicks off WAP service for real-time stock quotes
  State to seek Rs 15,000 cr package from World Bank