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Pru
ICICI Mutual to launch ETF
Mumbai: Prudential ICICI Mutual Fund plans to launch
an exchange traded fund (ETF) under the acronym SPIcE
that is Sensex Prudential ICICI ETF, mirroring the Bombay
Stock Exchange (BSE) 30-shares sensitive index (Sensex).
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SEBI
tightens noose around trustee cos, AMCs
Mumbai: The capital markets regulator, SEBI has
tightened the noose around asset management companies
(AMCs) and trustee companies in the mutual funds industry.
It has now stipulated that an AMC and a trustee company
would have to necessarily appoint "independent directors"
in place of the outgoing independent directors within
a period of three months from the date of the latter's
resignation.
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McDowell,
Kingfisher have rough ride
Kochi: It has been a rough ride on the bourses
for the Vijay Mallya companies - - McDowell and Co Ltd
and Kingfisher Properties. The stock of Kingfisher Properties
has been losing ground sharply.
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It's
volumes game in Mahindra
Mumbai: The Mahindra & Mahindra stock yesterday
witnessed huge volumes on the Bombay Stock Exchange and
the National Stock Exchange following improved second
quarter results. The stock recorded a combined volume
of over 17.59 lakh shares on the two bourses.
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RBI
okays HLL's FII limit rise
Mumbai: The Reserve Bank of India has approved
the increase in foreign institutional investor holding
limit in FMCG major, Hindustan Lever Ltd, to 49 per cent
from 24 per cent.
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SEBI
directs new owners of Widia, FAG
Bearings to make open offers
Mumbai: The Securities and Exchange Board of India
(SEBI) has ordered the new owners of Widia India Ltd (WIL)
and FAG Bearings India Ltd (FBIL) to make open offers
to their Indian shareholders for acquisition of shares
following the transfer of ownership of their (Indian companies')
erstwhile parent companies abroad which provided them
indirect control over the Indian operations.
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SEBI
clears Sardas open offer for BSL
Mumbai: The open offer of the Sardas for taking
over BSL Ltd is likely to hit the market some time after
Diwali. The Securities and Exchange Board of India (SEBI)
has finally cleared the proposal.
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Bond
volumes hit the roof, yields the floor
Mumbai: The Reserve Bank of India continues to
cast its spell on the market. Bond volumes touched an
all-time high on Wednesday, while yields on government
securities and corporate papers plummeted to a new low.
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Rupee
stable; gilts bullish
Mumbai: The rupee closed almost unchanged at 48.3850/39
against the dollar on Wednesday, as compared to Tuesday's
close of 48.38/3850 in the forex market. There was buying
of dollars in the early half of the day by State-run banks.
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