Funds come to Himatsingka's rescue
Mumbai: Himatsingka Siede, India's largest exporter of furnishing fabrics, is attracting a lot of interest from institutional investors, both local and foreign, over the last few days. The stock has already gained around 20 per cent in the last one week. On Thursday, the stock gained 1.51 per cent at Rs 222.15 on the BSE with volume of 6,226 shares.
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IL&FS Mutual to alter eCom portfolio
Kolkata: IL&FS Mutual Fund has proposed to alter the investment objective of eCom Fund, the sectoral scheme dedicated to technology, so as to include companies from other sectors in its portfolio. In its new format, the scheme will invest in stocks of corporates that are market leaders, play a critical role in the businesses of their choice and have a clear export potential. The plan is to consider a number of key sectors and not depend on only technology.

Vibhav Kapoor, vice-chairman of IL&FS MF, said the scheme will soon have a more diversified portfolio, which would appeal to a wider section of the market. It may be mentioned here that IL&FS eCom Fund, launched in February 2000, is primarily invested in areas such as IT consulting & services, broadcasting, telecom services and electrical components. Tech funds have not been able to keep up the pace of growth since the sector declined after moving ahead at a scorching pace during the recent tech boom, Mr Kapoor mentioned. In fact, a number of these funds have very low net asset values at the moment, some of them hovering well below the Rs 10-mark.
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Reliance Capital improves
Kolkata: The Reliance Capital stock is on an upswing. The buzz is that Reliance Capital is attempting to enter the banking arena through the takeover route. The stock on Thursday closed at its 52-week high at Rs 105.65, up 6.7 per cent with over one crore shares changing hands on the NSE and the BSE.

The last two months' average daily volume in the counter stands around 13 lakh shares and average price is Rs 83.28 on the BSE. Of the day's traded quantity, 25.10 per cent was presented for delivery.
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Rupee moves up
Mumbai: The rupee closed marginally stronger on Thursday at 45.8850/89 per dollar. The domestic currency opened at 45.88/90 and strengthened to 45.86 levels during intra-day, before settling to close a tad lower.
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