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MTNL
stocks rise due to acquisition talks
Mumbai: MTNL's stocks rallied sharply thanks to
acquisition rumours, and touched huge volumes on the stock
exchanged yesterday. The stock, which has been languishing
for some time now, got a fresh lease of life on acquisition
rumours. Reports say MTNL is bidding to acquire an 80-per
cent stake in Malawi Telecom Company of Africa. It has
reportedly tied up with Telecom Consultants of India and
National Insurance Company for acquiring the stake.
This
news comes in the wake of the company having been granted
a licence in August for providing basic telephone services
as well as ILD services in Mauritius. The news has, however,
reportedly renewed market confidence in the stock.
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Mutuals
post profits in September
Mumbai: Domestic mutual funds are playing safe,
though foreign institutional investors, it looks like,
are fascinated by Indian equities. According the Securities
and Exchange Board of India data, this month (up to September
9), mutual funds have been net sellers to the tune of
Rs 318 crore.
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Select
schemes posts 20-200% rise in values
Mumbai: The net asset values (NAVs) of various
equity schemes have shown a marked increase in the last
two years. Select schemes have seen a 20 per cent to 200
per cent rise in their NAVs.It is because of a meteoric
rally in equities, which spelt a boon for most of the
schemes, say reports.
The
Franklin India Prima, for example, has shown the maximum
increase of 205.15 per cent from Rs 16.49 on 10 September
2001 to Rs 50.32 on 9 September 2003. In the same period
Alliance Basic Ind has gone up 151.45 per cent from Rs
7.95 to Rs 19.99.
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Nihar
Info lists on BSE
Hyderabad: The city-based Nihar Info Global, which
was earlier known as Genesys Securities Ltd, has announced
that the company's shares have been listed on the BSE
from Wednesday, according to a company press release.
This follows a recent move wherein Nihar Info and Genesys
were merged.
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