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UTI revamp begins; Ordinance cleared
THE Government has set in motion the restructuring of the country's largest mutual fund - the Unit Trust of India - by splitting it into two entities. The Cabinet had approved the splitting of UTI into two entities in August and had also ...
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A clean slate for NAV schemes
THE restructuring of the Unit Trust of India by splitting it into two entities would lead to the NAV-based schemes being ring-fenced from the woes of the beleaguered US-64 and the assured return schemes. The product basket of the (NAV-based ...
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FII selling drags Sensex to new 52-week low
THE free fall of the benchmark Sensex continued for the sixth day today on sustained selling pressure from FIIs and local investors. The Sensex heavyweight HLL touched four - year low on poor quarterly performance, dragging others down with it. ...
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SEBI granted powers for search & seizure
THE capital market watchdog, Securities and Exchange Board of India, has finally been empowered, with enough teeth to take on manipulators and players violating its regulations. For long, the regulator had complained about inadequate powers to ...
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DoT approves `bonanza' for BSNL
IN what should come as a big relief for telecom behemoth Bharat Sanchar Nigam Ltd. (BSNL), the Department of Telecommunications (DoT) has cleared a financial package of measures that include the full reimbursement of its licence fees and spectrum ...
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India Nippon bonus
CHENNAI: The board of directors of India Nippon Electricals Ltd has announced a bonus issue of shares, in the ratio of seven shares for every ten held. The issue would capitalise Rs 3.32 crore of the free reserves. The record date for this ...
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