Two Sundaram MF schemes announce dividends
Chennai: Two schemes promoted by Sundaram Mutual Fund have announced dividends. Sundaram Growth Fund, an equity scheme, announced its fourth dividend since inception. The dividend announced was Rs 1.50 per unit of Rs 10 face value. The record date for the same was chosen as July 11. Sundaram Bond Saver, an income scheme, also announced a dividend. The scheme declared the 18th dividend since inception at a rate of Rs 0.20 for a unit of Rs 10 face value. The record date fixed was 11 July.
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Bangalore SE to send demutualisation report to SEBI
Bangalore: The Bangalore Stock Exchange will send a report on its proposed demutualisation to the Securities and Exchange Board of India (SEBI) within two weeks after its board approves the report filed by external advisor, Delloitte Haskins and Sells, reports said. "It is not clear whether SEBI would accept the report as it is. Following SEBI's directives, the exchange will start off the demutualisation process."

The bourse has plans to initiate a reverse merger with its subsidiary, BgSE Financials, following SEBI's directive on corporatisation and demutualisation of stock exchanges. Earlier, SEBI had sought "certain clarifications on legal issues" on the proposed reverse merger of the subsidiary.
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Market size may be cut for futures transactions
New Delhi: The government is planning to reduce the size of the market lot for transactions in the futures market. The move is to make the futures market more accessible to the retail investor. The minimum size of transactions in the futures market, which currently stands at Rs 2 lakh, will be brought down to Rs 1 lakh. Though the notification is yet to come, the move is aimed at enabling more retail investors who are buying in the cash segment to hedge their positions in the futures market so that the overall risk borne by them comes down, market sources told reporters.
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MFs keen on Jupiter Biosciences
Mumbai: The stocks of Jupiter Biosciences, a second-rung pharma company, have become a favourite. Institutional investors seem to be quite bullish on the stock, at least a couple of mutual funds. A few fund managers reportedly seem to have a positive outlook on the company. Overall, the company has a `good enough' management and business seems to be driven by its progress in the peptide market, though a substantial amount of operator activity cannot be ruled out at the counter, according to analysts.
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Re up 6 paise against dollar
Mumbai: The rupee on Monday ended 6 paise higher at 46.05 against the dollar as compared to Friday's close of 46.11/12. The rupee opened at 46.0850. The rupee has been fast appreciating and has gained a full rupee in a period of one and a half months.
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