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HDFC-Zurich
MF ahead of Pru ICICI in asset value
Mumbai: HDFC Mutual Fund, which has taken over Zurich
India, has gained a lead over Prudential ICICI Mutual
Fund in terms of assets under management. The latest figures
supplied by the Association of Mutual Funds in India (AMFI)
indicate that the HDFC-Zurich combine had Rs 10,224 crore
in assets as on February 28. Prudential ICICI, which has
for long reigned as the top fund house in the private
sector, came second with Rs 10,176 crore. Zurich added
Rs 3,319 crore to HDFC MF's kitty as on that date.
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BSE
raises transaction charges by 33 pc
Mumbai: The Bombay Stock Exchange (BSE) has raised
the transaction charges for the cash market segment by
33 per cent from April 1.
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Hindalco
sees good trading volumes
Mumbai: Hindalco witnessed large volumes on the bourses
on Wednesday . While the stock closed marginally weak
at end of trade, market opinion is that with the company
taking steps to consolidate its business, Hindalco is
a value stock. The stock ended the day at Rs 550 on the
BSE with around 17,168 shares traded. On the NSE, the
stock closed at Rs 552 with around 1.54 lakh shares traded.
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Block
deals in Crompton
Mumbai: The Crompton Greaves stock on Wednesday moved
up on major bourses reportedly on active buying by one
of the stakeholders.The counter saw two block deals involving
a total of one-lakh shares (representing around 0.19 per
cent of the paid-up capital of the company) on the BSE.
The deals were struck at Rs 55.95. The identity of the
new buyer, however, could not be ascertained immediately.
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Institutions
dial up Bharti Tele
Mumbai: Even as the telecom sector is going through
massive pricing competition, the stock of Bharti Tele-Ventures
was back in the limelight on Wednesday with a number of
institutions buying the stock.The active interest from
the domestic institutions led to trading volumes doubling
on the bourses. On the BSE, volumes increased from 78,000
shares on Tuesday to 1.42 lakh shares and on the NSE from
1.35 lakh shares to 3.52 lakh shares.
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Sharekhan
eyes derivatives trade
Mumbai: Sharekhan, the retail broking wing of the
SSKI group, has charted growth plans that are particularly
focussed on derivatives. The idea is to attract more eyeballs
for a segment that is expected to generate considerable
business.
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NRIs
can invest in exchange traded derivative deals
Mumbai: A non-resident Indian (NRI) can invest in
exchange traded derivative contracts that have been approved
by the Securities and Exchange Board of India from time
to time.
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US
trade body calls for abolition of FII regime
New Delhi: ICI suggested that India should end the
FII system as it stands today — a proposal that it
feels would lead to larger inflows into the local securities
market and adding to the "depth and breadth"
of its trading.
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NRI
remittances beef up rupee
Mumbai: The rupee gained further strength on Wednesday
against the dollar on the back of large overseas remittances.
The rupee surged by four and a half paise to end at 47.5600,
touching an 18- ½ month high.
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