US-64 rides high on bail-out package
Mumbai: Riding on news that the Government will bail it out, UTI's flagship scheme, Unit Scheme-64, yesterday hit the 20 per cent upper circuit at Rs 7.15 a unit. 
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Franklin to consolidate Pioneer ITI schemes
Mumbai: Franklin Templeton Mutual Fund, which has acquired Pioneer ITI Mutual Fund, is planning to consolidate some of the schemes of the Pioneer ITI. There are some schemes which are common in both the mutual funds such as index funds. 
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Initial gains not held
Mumbai: Bulls were in control during the initial hours of Monday's trading and made substantial gains. Later on, bears made a comeback and recovered most of their day's losses. 
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Speculative activity in some infotech stocks
Mumbai: Five of the erstwhile K-10 stocks yesterday saw a renewal of a speculative interest on the major bourses after a long while. Among the five, the counters of GTL and HFCL hogged the operators' attention. 
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Reliance counters rule firm
Mumbai: Index heavyweights, Reliance Industries and Reliance Petroleum, kept the stock indices firm on Monday. Dealers said but for their firmness, the indices would have closed in negative territory. 
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SEBI tightens norms for AMC directorship
New Delhi: The Securities and Exchange Board of India (SEBI) has ruled that persons providing any type of professional services to a mutual fund, asset management company (AMC), trustee company and a sponsor can only be considered as an "associate" director on the board of an AMC or a trustee company. 
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Early gains dissipate as PSUs lose sheen
Mumbai: Positive movement in index heavyweights Hindustan Lever and Reliance was offset by profit-bookings in Infosys Technologies and negative sentiment in MTNL, HPCL and BPCL, resulting in the markets ending Monday's session only fractionally above its close on Friday. 
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Re strengthens; gilts rise
Mumbai: THE rupee closed on Monday at 48.4750/48 against the dollar as compared to its previous close of 48.4950/5000 in the forex market. Accumulated dollar supplies came into the market. 
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