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UTI
plans special audits on firms
Mumbai: In its
toughest move yet, the beleaguered Unit Trust of India, which is
grappling with a funds crunch and substantial non-performing assets,
is planning to launch special investigative audits on firms which it
suspects have diverted funds, but have also turned defaulters with it.
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Reconstruction fund
to buy NPAs of 4 UTI schemes
Mumbai: The newly set up Asset Reconstruction Fund of Unit
Trust of India will initially buy the non-performing assets of four of
its open-ended schemes at a written down value of Rs 18 crore.
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Revival under
way, Damodaran tells investors
Mumbai: Investors have a reason to be disappointed with the
Unit Trust of India for not giving them dividend this year as it used
to do. But this is a period of transition, says UTI chairman M
Damodaran.
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UTI G-Sec says bonds
to stay stable
Mumbai: The focus of mutual funds continues to be on short-term
and fixed maturity plans. While their sales teams are pretty sure that
these plans will stay put on the popularity charts, the market
attention recently shifted to the rather unsatisfactory mode.
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SEBI board to
continue hearing on First Global
Mumbai: The board of Securities and Exchange Board of India
will continue hearing Shankar Sharmas First Global case at its
meeting to be held in Mumbai on Monday.
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Volumes likely
to move up
Mumbai: While foreign institutions were unlikely to buy
aggressively even at this level, selling by domestic institutions
could stop after Tuesday, a BSE broker dealing with institutions said.
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CSE makes fresh move to
boost trading volume
Kolkata: In an effort to boost falling trading volume, the
Calcutta Stock Exchange might allow trading in 180 scrips under the
permitted category.
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