Funds drive Sensex past 5,500 mark
The bullish sentiment continued on the bourses with the Sensex crossing another psychological barrier of 5,500 mark on increased buying both from domestic as well as foreign investors.
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Magnum NRI Fund launched
Thiruvananthapuram: SBI Mutual Fund, a 100 per cent subsidiary of India's largest pubic sector bank, has launched the new Magnum NRI Investment Fund in Kerala.
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IOC plans domestic, GDR route for cross-holding sales
Mumbai: Indian Oil Corporation plans to sell its cross holdings in ONGC and Gail in the Indian stock markets as well as through GDRs. The company will sell its stake only after consulting ONGC, Gail and the Petroleum Ministry, depending on IOC's need for monies, Mr M.S. Ramachandran, Chairman and Managing Director, IOC, said here on Friday.
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