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Birla
Sun Life plans floating rate scheme
Mumbai: Birla Sun Life Mutual Fund plans to introduce
an income fund that will make substantial investments
in floating rate debt and money market instruments. The
proposed Birla Floating Rate Fund will have at least 65
percent of its portfolio invested in floating rate paper
under normal circumstances.
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Lacklustre
movement
Mumbai: Friday's trading activity witnessed narrow
movement. Stock prices of the tradable counters moved
within a close band. Bears managed to gain marginally
from the day's trading.
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Bank
stocks in the limelight
Mumbai: In an otherwise listless market, PSU banks
remained the flavour of the day, registering good volumes
on the back of sustained interest.While Union Bank of
India, Andhra Bank moved up, it was Punjab National Bank
and Canara Bank that led the rally.
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Merger
blues affect Digital
Mumbai: The stock price of Digital Globalsoft remained
depressed on Friday on account of select institutional
selling. According to dealers, the selling apparently
resulted due to market talks that the much-anticipated
merger of the company with its new parent Hewlett Packard's
100-per cent Indian software subsidiary may not come through
as early as anticipated by the analysts and investment
community.
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TRAI
decision pushes VSNL to new low
Mumbai: The VSNL stock on Friday closed at its 52-week
low on significant selling over the Telecom Regulatory
Authority of India's (TRAI) decision of postponing implementation
of new tariff for landline telephones by a month.
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Turnover
drops in derivatives
Mumbai: Turnover dropped sharply on Friday on the
NSE as the market activity was mainly in the near-month
contracts (April contracts). Turnover on Friday was Rs
1909.81 crore against the Thursday's turnover of Rs 3548
crore, which included March contracts.
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BSE
removes 12 stocks from F&O trading
Mumbai: The Bombay Stock Exchange (BSE) has taken
off 12 stocks from the futures and options trading as
they failed to meet the SEBI trading criteria.
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Rupee
stable; gilts dip
Mumbai: The rupee gained a mere 0.75 paise on Friday
to end at 47.5475/5525 against the dollar as compared
to 47.5400 on Thursday in the forex markets.
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