MARKETS
MUTUAL FUNDS
SEBI issues guidelines on cut-off timing for NAVs
THE Securities and Exchange Board of India has issued the guidelines on uniform cut-off timing for net asset value of mutual funds (MFs). The guidelines specify that for purchases of units in MFs, for valid applications received up to 3 p.m., ...
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MFs allowed to invest in foreign securities
MUTUAL funds can now invest abroad, according to the Securities and Exchanges Board of India (SEBI) notification. SEBI has decided to permit each mutual fund to invest in foreign securities up to 10 per cent of their net assets as on January 31 ...
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Canexpo to pay 35% dividend
CANBANK Mutual Fund has declared a 35 per cent dividend on Canexpo scheme, an open-ended equity-oriented sectoral scheme. The dividend works out to Rs 3.50 for every unit, which has a face value of Rs 10. This is the third dividend declared ...
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Nationalised banks to be Reliance MF's distributors
THE credibility commanded by old private sector banks and nationalised banks, particularly in small towns and villages, has made them Reliance Mutual Fund's preferred distribution outlets for its schemes. The fund entered into a distribution ...
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Many new MF schemes quoting below par
INVESTORS in schemes recently launched by MFs are in a fix as many of them are quoting at less than the offer price of Rs 10. The list of names that have destroyed value includes a number of growth funds, a few of them launched with considerable ...
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STOCKS
Ginni Filaments delists from DSE, Ahmedabad SE
TECHNICAL ANALYSIS
Bulls recover
THE sentiment reading of the tradable counters remains bearish. Bull domination on Monday is likely to neutralise the sentiment reading. On the contrary, the prevailing bearish sentiment is likely to be further strengthened. Nifty futures ...
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STOCK MARKETS
Growth prospects prop up PNB
GOOD growth prospects has shored up market interest in Punjab National Bank (PNB) with the stock appreciating by more than 10 per cent over the past one month. According to market sources, the company is attractively valued at these levels. ...
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Big buyer in bank
A DELHI-BASED corporate raider is said to be accumulating the stock of Chennai-based Indian Overseas Bank. According to the market grapevine, the businessman, who had mounted a takeover bid on a Mumbai-based shipping company a couple of years ...
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TV Today bounces back
TV Today Network Ltd stock on Friday bounced back, from its trough recorded on Thursday at Rs 121.25 since listing, on improvement of a sectoral outlook following the recent optimism generated at the media conclave "Frames 2004" in Mumbai. ...
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DERIVATIVES MARKETS
HDFC Bank: Outlook negative, short March futures
THE following strategies are based on Friday's trading in the spot and the derivatives segments on the NSE: M&M: The stock closed at Rs 449 in the spot market. The outlook appears negative. The downside price target is Rs 432. Consider ...
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REGULATORY BODIES & RULINGS
3-member selection committee to recommend names for SAT
MEMBERS of the Securities Appellate Tribunal (SAT) would henceforth be appointed by the Centre on the basis of the recommendations of a three-member selection committee. A rule to this effect has now been issued by the Central Government. The ...
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SEBI to introduce margin-trading system
SEBI has finally decided to introduce margin-trading system, with corporate brokers with net worth of at least Rs 3 crore being eligible for providing this facility. For securities borrowing and lending system, clearing corporations of the ...
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COMMENTARY
Infotech, bank stocks lead recovery
THE stock markets, which plunged sharply on Thursday, rose on Friday and ended the dayin the positive territory. The Sensex gained by 28.50 points to close at 5443.44 points, up from 5414.94 points. The Nifty rose by 8 points to close at 1725.10, ...
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IPOS
Biocon IPO oversubscribed 33%
THE IPO of Biocon Ltd was oversubscribed by almost 33 per cent as the issue closed on Thursday. Nearly 99 per cent of the bids came at the top end of the issue, priced in the Rs 270-315 band, sources said. The IPO is the first by a ...
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PUBLIC OFFER
Minister with appetite in hungry market
ADVANI'S Rath Yatra is moving at a snail's pace compared to ONGC's IPO yatra. The issue blew like a gale wind, and before people could digest the size of the issue, it got oversubscribed, and now they have also fixed its price at Rs ...
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