Firms prefer private MFs, public UTI
Mumbai: Corporates prefer to park their funds with private sector mutual funds while retail investors continue to hold a sizeable part of the total assets managed by Unit Trust of India, the single largest mutual fund in the country.
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Fall-out of Reliance open offer -IPCL goes into a tailspin
Mumbai: Indian Petrochemicals Corporation Ltd (IPCL) stock has gone into a tailspin with the closing of the open offer by Reliance Industries which acquired control of the company recently. The share has lost 22 per cent over the past 10 days to close at 116.65 on the BSE on Monday. 
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Open offer talk lifts Castrol
Kolkata: Castrol India yesterday closed with a gain of 3.84 per cent at Rs 212 on the National Stock Exchange on strong market expectation of an open offer by British Petroleum-Amoco, its parent, to mop up the non-promoter holding of around 29 per cent in the in the company. 
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CDSL revives LoTUS scheme
Mumbai: Central Depository Services (INDIA) Ltd announced that it has decided to reopen the Low Tariff Unlimited Service (LoTUS) scheme for registration. According to a release, the registration of investors demat accounts under the scheme, through CDSL DPs, will be open from September 2 to September 30. 
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Sundaram Mutual to launch debt scheme
Chennai: Close on the heels of three new mutual fund offerings, Sundaram Mutual Fund has announced the launch of yet another debt product Sundaram Debt Fund. 
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Bulls march ahead
Mumbai: Bulls extended further pressure over Monday's trading. Their dominance left the bears with no opportunity to recover during the day's trading. The market sentiment reading of the tradable counters stands strongly bullish. 
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UTI offloads VisualSoft Tech in block deals to LIC?
Kolkata: VisualSoft Technologies yesterday saw a significant amount of shares changing hands through block deals on the Bombay Stock Exchange and National Stock Exchange. Apart from numerous transactions involving shares ranging from 10,000 to 50,000, the stock recorded its top deal of 1.58 lakh shares on the NSE at Rs 183.80 per share.
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FIs offload L&T
Mumbai: Trading volumes in cement major Larsen & Toubro jumped on Monday. The rise in volumes was attributed to market talk that Unit Trust of India (UTI) might sell its stake to another cement major. 
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Satyam options dominate
Mumbai: Out of 30 securities, options on 27 underlying securities got traded on Monday. The total number of contracts traded was 11,237 with a notional value of Rs 294.67 crore. 
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Govt may approach SEBI again on UTI
New Delhi: The Finance Ministry is likely to approach the Securities and Exchange Board of India (SEBI), for a second time, to give its findings on the role of the initial sponsors of the Unit Trust of India in bridging the shortfall in the assured return schemes of the trust. 
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Infosys reverses direction even as Satyam, Wipro gain
Mumbai: The buoyant trading interest seen on Friday did not sustain on the first day of the week. The overall trading interest remained lacklustre on Monday as selling pressure witnessed by few select stocks offset gains made by others. 
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Market round-up 
Mumbai: Call rates continued to hover around the RBIs repos rate amidst ample liquidity. Demand was strong in early trade from banks looking to borrow in excess of their reserve needs. 
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Forward premium falls further; gilts up
Mumbai: The outlook for rupee appears to be stable with forward premium on dollar falling significantly on Monday. Dealers said the forward premium was seen falling quite considerably in line with the trend that started since early June. 
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Rupee hits new seven-month high of 48.51 per dollar 
Mumbai: The rupee hit a new seven-month high of 48.5100/5150 per dollar on Monday. Bunched up dollars accumulated by banks over the weekend flowed into the system along with the usual exporter remittances which saw the rupee rise sharply. 
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