Financial Express - India's leading business newspaper from the Indian Express Group

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.

London, Frankfurt bourses merge, spawn a mega-European exchange

Europe's two biggest stock markets, London and Frankfurt, agreed on Wednesday to merge in the first step towards creating a pan-European exchange which should drive down the cost of trading.

Tatas get trendy, roll out sporty Euro-II Indica

Tata Engineering on Wednesday rolled out the Euro II-compliant Indica 2000, the latest addition to the Indica clan, from its assembly line with price tags of Rs 3.38 lakh and Rs 4.22 lakh for the economy and luxury versions (prices ex-showroom Mumbai).

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.