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MFs
may not hurry to invest in overseas cos
New Delhi: Mutual funds are unlikely to come to
the Government and the Reserve Bank of India (RBI) assistance
in their ongoing efforts to reduce the swelling foreign
exchange reserves.
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MFs'
stake in VisualSoft up
Hyderabad: Mutual Funds have increased their exposure
in the Hyderabad-based VisualSoft Technologies Ltd from
7.54 per cent to 10.41 per cent during the quarter ended
December 31, 2002.
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Birla
MF launches dividend yield plan
Mumbai: Birla Sun Life Mutual Fund has launched
Birla Dividend Yield Plus, an open-ended scheme that aims
to provide capital growth and income by investing primarily
in well-diversified portfolio of dividend paying companies,
which have a relatively high yield
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Shareholding
changes in DSP-Merrill MF
Mumbai: DSP Merrill Lynch Ltd Mutual Fund has informed
investors about modifications in its shareholding structure,
in view of which certain changes have been made in its
schemes.
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Sensex
to remain cautious but firm
Mumbai: The Sensex expected to open firm on Thursday
amid mixed trends. PSU stocks would see some movement
as Cabinet reshuffle on Wednesday instilled some positivity.
The overall trend is steady as the market awaits quarterly
results of some of the key players including, IPCL, HPCL
and Engineers India.
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Dow
up 22 points at close
London: US stocks rose on Wednesday after the Federal
Reserve's widely expected decision to stand pat on interest
rates soothed investors left jittery by President Bush's
tough words on Iraq.
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Bear
dominates the day
Mumbai: Bears gained control of Wednesday's trading
activity. Their dominance left the bulls with no opportunity
to recover during the day's trading. The market sentiment
reading of the tradable counters remains bearish.
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Mahajan
exit news lifts MTNL
Mumbai: MTNL and Bharti Tele-Ventures gained momentum
on the boursesyesterday following reports of a change
of guard at the IT and Telecom ministry. MTNL saw an upside
of 16-18 per cent on the bourses yesterday while Bharti
Tele gained about 8 per cent.
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SEBI
to ask RBI for more ETF centres for T+2
Mumbai: The Securities and Exchange Board of India
has said it would request the RBI to extend the number
of centres having Electronic Fund Transfer (EFT) to at
least 100 by April 2003 and ensure that all branches in
these centres have EFT facility for smooth implementation
of T+2 rolling settlement from April 1.
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Rupee,
gilts firm up further
Mumbai: The forward premia on dollar gained for
the fourth consecutive day on Wednesday. Over the last
four days, the six months premia gained close to 60 basis
points.
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