MFs to pay SEBI net asset-based service fee
Mumbai: Mutual funds will now be required to pay service fee to the Securities and Exchange Board of India (SEBI) on the basis of their net assets as on March 31 of a year, instead of paying a fixed service fee of Rs 2.5 lakh for every financial year.
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Alliance Mutual ups stake in Mastek, Trent
Mumbai: Alliance Capital Mutual Fund has increased its stake in Mastek and Trent to over five per cent through market purchases, the fund informed the stock exchange
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Bear domination
Mumbai: Friday's trading activity witnessed bear domination. Bulls were unable to make any impact during the day's trading. The sentiment reading of the tradable counters stands bearish. B
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Motive behind Nestle downgrade
Mumbai: Nestle India slipped marginally on Friday on talk that the company was downgraded by a foreign brokerage firm. 
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MphasiS Holding stake in MphasiS BFL falls
Mumbai: Even as speculation is rife in the market over Barings Private Equity exiting software company MphasiS BFL Ltd, MphasiS Holdings Ltd - one of the biggest shareholders in the company - has sold around five per cent stake in the company has sold around five per cent stake in the company between January and June this year. 
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Puts gain value
Mumbai: Of the 30 stocks, options on 28 securities got traded on Friday on the National Stock Exchange. Turnover improved to Rs 265.83 crore on Friday against Thursday's turnover of Rs 249.27 crore in the options segment. 
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Technip told to make open offer in Seamec
Mumbai: The Securities and Exchange Board of India (SEBI) has directed Technip Coflexip (formerly Technip SA, France) to make an open offer to the shareholders of South East Asia Marine Engineering and Construction (Seamec) for 20 per cent shares of the company. 
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Weak US sentiment affects infotech stocks
Mumbai: The overnight weakness in the US stock markets leading to substantial erosion in the mainline Dow Jones Industrial Average and the technology stocks index Nasdaq in turn led to a sell-off on the Indian bourses on Friday. 
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Rupee at new closing high of 48.42/4250 
Mumbai: After a relatively steady period, the rupee again hit a new seven and half month closing high on Friday. It closed at 48.4200/4250 per dollar. 
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Reserve Bank To allow forward trading in gold for exporters 
Mumbai: The Reserve Bank of India is expected to soon allow forward trading in gold to jewellery exporters, albeit through banks permitted to trade in gold. 
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