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Alliance
to stay put - Samir Arora to remain head
Mumbai:
Alliance Capital, the US-based mutual fund major,yetserday
put to rest months of speculation on the sell-off of its
mutual fund, Alliance Capital (India), by reinstating
its commitment to its Indian operations.
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UTI
Mutual targets doubling asset base
Mumbai: The newly launched UTI
Mutual has set itself an ambitious target of doubling
its assets under management within the first year of its
operation. According to M. Damodaran, Chairman and Managing
Director, UTI Mutual Fund, the fund, which began formal
operations on February 1, 2003, plans to double its assets
under management from the current level of Rs 15,000 crore
to Rs 30,000 crore within next 12 months.
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FIIs
grab HCL Tech
Mumbai: With the second-quarter financials in line
with the market expectations, HCL Technologies is being
accumulated by some FIIs.
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i-flex
sustains interest as ESOP lock-in expiry nears
Mumbai: iI-flex solutions has been gaining ground
in the market in the recent past. The stock today gained
Rs 866.15, up 3.2 per cent, with 77,087 shares being traded
on the BSE. On the NSE, i-flex closed at Rs 865.70 with
1.92 lakh shares traded.
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Alliance
decision boosts some scrips
Mumbai: Alliance Capital Management's decision to
continue with its Indian operations revived market interest
in the stocks in which the fund - Alliance Capital Asset
Management (India) Pvt Ltd - has high exposure.
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FIIs,
NRIs, OCBs may take part in Maruti IPO
New Delhi: Foreign Institutional Investors, Non-Resident
Indians and Overseas Corporate Bodies may be allowed to
take part in the initial public offering (IPO) for car-maker
Maruti Udyog Ltd (MUL).
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Dow
up 56 points at close
London: US stocks climbed on Monday after surprisingly
strong data on the U.S. manufacturing sector lifted hopes
that economic growth will gather steam in 2003, but the
threat of war kept investors' enthusiasm in check.
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India
Inc, markets welcome upgrade
New Delhi: India Inc and the financial markets cheered
Moody’s decision to upgrade the country’s sovereign
rating to Ba1 from Ba2. Prices on government securities
recovered by around 60 paise after news of the upgrade
hit the market.
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Rupee
gains; gilts rise
Mumbai: The rupee closed marginally stronger on Monday
at 47.78/79 per dollar, as compared to its previous close
of 47.80 in the forex market.
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