Canliquid annnoucnes dividend
Mangalore: Canbank Mutual Fund has announced 103rd weekly dividend in Canliquid scheme. According to a release by Canbank Investment Management Services Ltd here, Canliquid scheme has declared weekly dividend of Re 0.0083 per unit (net of tax) for the week ended January 5, on face value of Rs 10. The net asset value (NAV) as on record date (January 5) was Rs 10.0526 under its Dividend Reinvestment Plan.

After the payout, the NAV of the dividend reinvestment plan will fall to the extent of the payout and distribution tax, the release said. The NAV of growth plan was Rs 11.3699 as on January 5.
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IFCI becomes more active after merger announcement
Kolkata: IFCI has become more active after Finance Minister Jaswant Singh announced that it would be merged with a state-owned bank and a financial restructuring package will be ready before April 1, 2004. The stock got going for the last two weeks as the market got the wind of Government's possible announcement of a restructuring package for the country's first long-term development finance institution. In the last four sessions, the volume and price movement also suggested sudden surge in interest in the counter on major bourses.

On Friday, the stock closed at Rs 20.9, up 3.82 per cent, as 1.57 crore shares changed hands on the Bombay Stock Exchange, while on the National Stock Exchange the figure was over 3.12 crore shares. Today's closing price was the counter's 52-week high. The stock gained 23.69 per cent this week. Both domestic and overseas funds have reportedly been accumulating the stock in bulk over the last few days. Today's trading also reflected the same pattern.
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SBI remains a good option
Mumbai: The counter India's largest bank, State Bank of India (SBI), was one of the star performers of Friday. Notwithstanding increased volatility, the stock remained firm. What was more interesting was that the stock gained 20 per cent on the BSE's special institutional window, say reports.

Over the last few days, the stock of SBI witnessed increased premium in the institutional window. On Friday, the stock closed at Rs 640.80, up 3.01 per cent on the BSE. In comparison, on the institutional window, the stock closed at Rs 750 or 17 per cent premium to the market price. The talk is that these shares are being bought by FIIs on a very small scale as only limited shares of SBI can be bought by FIIs.
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Rupee up 8 paise
Mumbai: The rupee on Friday breached the 45.50 mark to close at 45.4450/4550 in its value against the dollar. On Thursday, the domestic currency closed at 45.53/54.

The Reserve Bank of India is said to have been protecting the rupee at the 45.50 level for weeks together.
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