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Unit
Scheme 95 to pay 12 per cent
Unit Trust of India (UTI)
has announced an income of 12 per cent (Rs 1.20 per unit) to the
existing unit holders of Unit Scheme 95 (US-95). The fund has also
announced an annuity of nine per cent under its Senior Citizens Unit
Plan.
UTI will pay the dividend in
these schemes to the unitholders whose names appear in the register up
to July 18, a fund statement said.
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Sensex
down 49.53 points
Uncertain global
markets, border tensions and a hesitant monsoon pulled down stock
prices in the domestic market for the second day in a row on Tuesday.
Opening almost at Monday's closing levels, the market continued to
reflect bearish sentiment the entire day.
The BSE Sensex ended at
3,229.18, 49.53 points lower than Monday's close and on the NSE, the
S&P CNX Nifty fell 12.05 points to 1035.95.
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Precot
halts buyback
Precot Mills Ltd ,
which came out with an offer to buy back 10 lakh equity shares held by
the public, has put on hold this programme following a directive from
the Securities and Exchange Board of India
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Indian
equity yields lower than bank depositsCMIE
The returns on Indian
equities in the eleven-year period between April 1991 and March 2002
were worse than that from bank deposits, according to the Centre for
Monitoring Indian Economy (CMIE).
In its July 2002 report on
capital markets, CMIE said that the equities markets yielded returns
of around 10 per cent per annum over the eleven-year period.
"This is much lower than the 13 per cent commercial deposit rate
for deposits above five years prevailing in 1991," the report
stated.
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Ivega
buys back stake from investors
Ivega, a Bangalore
based software consulting and services company operating in the
financial services space, has recently bought back an undisclosed
equity stake from a group of 29 private investors. These private
investors had contributed about $2 million as part of the third round
funding in April 2000.
Confirming the development,
Mr Giri Devanur, CEO, Ivega said, ``we bought back the equity about
three months back and distributed it among the existing investors.''
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