RBI to auction Rs 5,000cr govt bonds
Mumbai: Reserve Bank of India will conduct a yield-based auction for a 15-year government bond for a notified ammount of Rs 5,000 crore on 14 January.

The centre has also five per cent of the stock of notified amount Rs 250 crore for sale through non-competitive bidding to retail investors.
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Hero Honda, HCL Tech make debut in Sensex
Mumbai: Hero Honda Motors Ltd, India's largest two-wheeler company, and infotech firm HCL Technologies made entry in the benchmark 30-issue Sensex.

The two companies replaced computer education and software services firm NIIT Ltd and tractor and utility maker Mahindra & Mahindra.

Hero Honda has a weighting of about 3.3 percent of the benchmark while HCL Technologies comprises around 2.2 percent of the index.

According to the Bombay Stock Exchange Web Site, the inclusion criteria includes conditions such as the company should be in the top 100 firms by market capitalisation and that the constituents' market capitalisation should be at least 0.5 percent of the total index market capitalisation.
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Sebi to probe insider trading charge against Reliance
Mumbai: Securities and Exchange Board of India will probe the charge of insider trading by Reliance group and brokers in the sale of Reliance Industries's 10.05 per cent stake in Larsen and Toubro to Grasim Industries.

Following a complaint by the Investors' Grievances Forum about alleged insider trading in the L&T case, Sebi will seek information from the concerned parties, including RIL and brokers to ascertain facts.

The IGF had alleged that the Reliance group, which held only 6.62 per cent stake in L&T as on 31 March 2001, had acquired the balance 3.40 per cent stake of the enginering and cement company prior to deal with Grasim.
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Sebi clears ICICI safety bonds issue
Mumbai: ICICI Ltd will make its seventh public offering of unsecured redeemable bonds in nature of debentures aggregating Rs 600 crore under the umbrella prospectus, approved by the Securities and Exchange Board of India (Sebi).

The issue would open for subscription on 10 January and close on 24 January 24.

The bonds have been assigned AAA ratings by credit rating agencies like Icra and CARE.

The issue offers various options under five types of bonds-- Tax Saving Bond, Encash Bond, Regular Income Bond, Money Multiplier Bond and Children Growth Bond. Non-resident Indians and overseas corporate bodies are also eligible to invest in these bonds (except encash bonds) on both repatriable and non-repatriable basis.
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Franklin Templeton launches income fund
Mumbai: Franklin Templeton Asset Management (India) has announced to launch Indias first floating rate income fund.
Franklin Templeton manages Rs 3,667 crore worth assets as on 31 December 2001. It offers 10 funds and has presence in 11 cities in the country.

The Templeton Floating Rate Income Fund (TFRIF) is an open-ended income scheme which will primarily invest in floating rate debt instruments.

The initial offer would open on 21 January and close on 2 February 2001. The scheme would reopen on 18 February.
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