UTI planning to make Mastershare open-ended
Mumbai: The Unit Trust of India is planning to convert its Rs 1,800-crore Mastershare scheme into an open-ended one by end-August.

The plan has its redemption date in 2003. The proposed change will help investors realise a higher return both by saving the 10 per cent tax on dividend and wiping out a 30 per cent discount between the listed price and net asset value.
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More US-64 investments in textile, steel sector
New Delhi: An analysis of the top 100 equity holdings in the US-64 scheme of the Unit Trust of India has revealed that textile and steel investments account for nearly 16 per cent of the portfolio. In contrast, IT, pharma and FMCG acquisitions account for just under 3 per cent.

The study was conducted by Smart Investor of the Business Standard. 
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Badla rate goes up
Mumbai: The badla rate has gone up to 24.5 per cent on the Bombay Stock Exchange for the week ended on 23 July.

There has been a higher carry forward outstanding position of Rs 1,754.42 crore. A higher badla rate would mean a higher selling pressure on the bourses, in the long run, market watchers say.

The market has already moved up by11.4 per cent since 2 July on increase in carry forward position.
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Hong Kong bourse relaxes listing norms
Hong Kong: The Hong Kong Stock Exchange has announced new listing rules that are intended to attract technology companies. The exchange predicted that the first groups would list by the end of this year.

The aim is to create an exchange like the United States' Nasdaq, to act as a launch pad for technology companies from Hong Kong and China.

Companies hoping to list on the so-called second board would not require a history of years of profitability, which is currently a requirement for listing on the Hong Kong Stock Exchange.
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