UTI-II sell-off by mid-2003 likely
New Delhi: The Finance Ministry expects the privatisation of UTI-II comprising all the net asset value-based schemes including units of US-64 issued after January 2002 to be completed by the middle of next year. 
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Most funds stuck with HPCL, BPCL stocks
Mumbai: With the government postponing the disinvestment of HPCL and BPCL for the next three months, most equity funds which had build up positions in these two stocks are stuck with their holdings. 
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Franklin to launch portfolio scheme by next quarter
Mumbai: Franklin Templeton Investments has lined up a portfolio management scheme (PMS) that will offer customised solutions for high net worth investors. 
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UTI launching new income scheme today
Mumbai: After a gap of more than a year, Unit Trust of India (UTI) is launching a new scheme on Thursday. The country's largest mutual fund is launching an open-end, debt-oriented scheme Regular Income Scheme (RIS) on September 12. 
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Mastershare-86 book closure
Mumbai: Unit Trust of India has informed the BSE that the books of Mutual Fund (Subsidiary) Unit Scheme 1986 (Mastershare-86) will remain closed from October 12 to 15 (both days inclusive) for the purpose of updating of records and to consider payment of income distribution if any. 
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Restricted movement
Mumbai: Wednesday's trading activity witnessed restricted movement. However, bulls managed to gain from the day's trading. The sentiment reading of the tradable counters stands neutral. 
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Nasdaq India move on new trading platform
Kolkata: Nasdaq is on a drive in India to enable the local market to get acquainted with its new trading platform, SuperMontage. The system, aimed at better order display and execution, is expected to be convenient for trading in all Nasdaq-listed entities, Infosys and Satyam included. 
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Mastek rises on bonus talk
Mumbai: Mastek has been in the limelight over the last few days. The talk in the market is that the company is likely to come out with a bonus issue shortly. 
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Strong fundamentals behind Infosys' surge
Mumbai: In the midst of concern over the slowdown in the technology sector, index heavyweight Infosys Technologies has gained over 20 per cent in the last one month on market expectation of good revenue growth in the next few quarters. 
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`Strategic' booster keeps Cipla in good health
Mumbai: After a lull, the Mumbai-based pharmaceutical major Cipla seems to have gained the attention of investors including funds. The interest in the stock, analysts believe, was on account of the future strategy outlined at the latest annual general board meeting held on 
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IT stocks gain in cautious deals; Wipro down
Mumbai: After the bear hammering on the bourses on Monday, the sentiment improved marginally in Wednesday's trading session. Information technology stocks continued to find takers and stocks of public sector undertakings were still languishing at 
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Rupee stronger; gilts up
Mumbai: The rupee closed stronger by 5 paise at 48.45/4550 on Wednesday as compared to its previous close of 48.50/51. 
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Creeping clause back at 5 pc - SEBI amends takeover code
Mumbai: The Securities and Exchange Board of India (SEBI) has now ruled that promoters and promoter groups can undertake creeping acquisitions up to a limit of five per cent only in any financial year ending March 31.
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