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MFs
can invest up to 10 pc in foreign equities
New Delhi: Close on the heels of the Government's
decision to allow mutual funds to invest in equity of
listed overseas companies, the Securities and Exchange
Board of India (SEBI) has announced new guidelines on
investments by mutual funds, permitting them to invest
up to 10 per cent of their net assets in foreign securities.
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Chola
to launch dividend yield fund
Chennai: Chola Mutual Fund plans to launch a new open-ended
equity scheme called the Chola Dividend Yield Fund, which
intends to generate long-term capital appreciation and
dividend income by investing in stocks that have relatively
high dividend yields and are trading at attractive valuations
as compared to the market.
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Fund
interest boosts volumes in Britannia
Mumbai: Bakery products major Britannia Industries
on Monday witnessed large volumes on the bourses on sustained
market interest. The stock was quoting at Rs 516, up 3.39
per cent at close, with shares of around 1,54,954 traded
on the BSE. On the NSE, the stock closed at Rs 511, up
2.25 per cent with around 1,28,004 shares traded.
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ITC
gains on talk of price hikes
Kolkata: The stock price of cigarette major ITC gained
on Monday with good purchases in the counter by both the
domestic and foreign institutional investors. The stock
ended 2.44 per cent higher at Rs 653.40 with volume 3.51
lakh shares on the BSE and on the NSE it closed at Rs
654.80, up 2.75 per cent with volume of 5.17 lakh shares.
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Himachal
Futuristic gains over 50 per cent
Mumbai: After a sharp fall last month, the stock price
of Himachal Futuristic Communication Ltd (HFCL) has gained
over 50 per cent in the last one week on talks that a
leading market player is buying the shares from the market.
The stock price of HFCL gained 19.80 per cent at Rs 17.85
with volume of 1.16 crore shares on the BSE and on the
NSE it gained 20.13 per cent at Rs 17.90 with volume of
3.13 crore shares.
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Dow
Jones up 23 points at close
Mumbai: US stocks eked out gains on Monday as an early
rally that had pushed the Dow up 243 points shrank when
investors booked profits and looked at the challenges
facing the economy even after an expected swift end to
the war in Iraq.
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Re
dips; gilts up
Mumbai: The rupee on Monday ended at 47.4050/4150
against the dollar as compared with Friday's close of
47.4000/4050 in the local currency markets.
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