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UTI's
G-sec dividend
Mumbai: UTI has announced a dividend of 4 per cent
(Rs 0.40 per unit on a face value of Rs 10) under its
G-sec fund. Earlier, the fund had announced a dividend
of 12 per cent in June 2001, 10 per cent in December 2001,
5 per cent in March 2002 and 4 per cent in September 2002.
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Sundaram
MF eyes 5% market share in 5 years
Mumbai: Sundaram Mutual Fund yesterday said it
hoped to capture a market share of around 5 per cent (excluding
UTI) over the next five years through launch of more products
and expansion plans.
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Bears
prevail
Mumbai: Bulls exerted further pressure over the
initial hours of Monday's trading. Later on, bears made
a strong comeback and gained control of the day's proceedings.
Bears were successful to the extent of reducing the bull
count.
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CSE
prunes settlement bankers to 2
Kolkata: A major decline in the number of deals
and transaction volumes has led Calcutta Stock Exchange
(CSE) to reduce the number of settlement banks from five
to just two. With this, the exchange has taken Canara
Bank, IndusInd Bank and Global Trust out of its settlement
ambit.
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Godavari
Fert jumps as Coromandel raises stake
Mumbai: The stock of Godavari Fertilisers has been
witnessing a steady uptrend since May this year, with
the stock almost gaining by over 100 per cent. From a
level of Rs 14 on May 2, the stock peaked to an all-time
high of Rs 36 on November 14.
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Sensex
falls 37
Mumbai: Uncertainty over the timing of disinvestment
of the PSUs, HPCL and BPCL, dampened the sentiment in
stocks yesterday. The 30-share benchmark sensitive index
of the BSE, Sensex, closed lower by 36 points at 3,269.31
after some volatility in the last 45 minutes of trading.
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Nokia
interest in Hughes Soft
Mumbai: Hughes Software saw heavy buying interest.
The market talk is that a venture capital firm, promoted
by international telecom major Nokia is buying heavily
into the stock. Active buying by this VC has led to a
gain over 10 per cent in the price of Hughes Software
since December 4.
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Interest
in HMT winding down
Kolkata: The HMT stock, which was witnessing a
price and volume ramp-up on major bourses in the past
few days owing to an improvement in sentiment for the
PSU counters, slid yesterday after the Union Disinvestment
Minister, Arun Shourie's statement in Parliament.
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HSBC
Mutual IPO garners over Rs 700 cr
Mumbai: HSBC Mutual Fund, which had hit the market
last month with four schemes, has managed to collect over
Rs 700 crore during the initial public offer period, the
highest amount collected in an IPO in recent times.
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Rupee
gains; gilts weak
Mumbai: THE rupee closed stronger at 48.1950 against
the dollar on Monday, as compared to its previous close
of 48.2150/2250 in the forex market.
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