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Weekly
Report: FIIs sell off Rs254.9 crore in equities
Mumbai: The foreign institutional investors (FIIs)
recorded net sales of Rs254.9 crore (US $58 million) in
equities for the trading week ended January 28 while mutual
funds (MFs) were net purchasers at Rs133.11 crore.
The
foreign funds were net sellers at Rs116.80 crore ($26.6
million) in the debt market for the period under review,
according to the data available with the Securities
and Exchange Board of India (SEBI).
The
mutual funds were net purchasers in the debt market
at Rs348.51 crore. The Stock Exchange, Mumbai, (BSE)
during the week under review saw the sensex rising 235.85
points to close at 6419.09.
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Share
allotment: Reliance Infocomm denies claims
Mumbai: Mukesh Ambani controlled Reliance Infocomm
today dismissed the reports of the reported allocation
of its shares to privately held companies at much lower
price than those given to Reliance Industries, as 'totally
false and baseless'. A statement from Reliance Infocomm
said "the systematic and deliberate propaganda
is targeted at Reliance Infocomm and its Chairman."
It
said it has been alleged that Reliance Infocomm (RIC)
and Reliance Communications Infrastructure Limited (RCIL)
have allotted shares to Reliance Industries Limited
and Corporates (MDA Investments Companies) at different
rates to the detriment of the RIL shareholders. Detailing
the equity pattern of RCIL, the holding company of Reliance
Infocomm (RIC), it said both RIL and Corporates (MDA
Investment Companies) "have been issued the same
number of shares at the same price at the same time."
The
statement from Reliance Infocomm comes amidst spate
of reports that flagship Reliance Industries was given
Infocomm shares for up to Rs250 a share against a host
of privately held companies, including some of Mukesh
Ambani, for a price of only Re 1.
Giving
details of share allotments of RCIL, the statement said
RCIL is the holding company of RIC whose total equity
base is 200 crore shares. Of these, 90 crore shares
are allotted to Reliance Industries Limited and 90 crore
shares are allotted to MDA Investment Companies. The
other 20 crore shares are held in a trust for Business
Associates and Employees.
Initially,
RCIL issued 81 crore shares each to RIL and Corporates
(MDA Investment Cos) at par (i.e. Rs one each) but subsequently,
RCIL issued 9 crore more shares each at Rs 250 to both
RIL and MDA Investment Companies.
"While
financial analysts and experts can, no doubt, see through
the deliberate misrepresentations, lay persons may be
confused by sensationalisation and distortion of information
available in the public domain," it added.
RIC
is the operating company pursuing major infocomm business
activities whose equity base is 416.35 crore shares.
RCIL, the holding company of RIC holds 321.85 crore
shares by investing an amount of Rs 2941.17 crore at
an average price of Rs 9.13, the statement said.
In
addition to this, RIC has issued 31.5 crore shares each
at Re 1 per share to RIL, MDA Investment Companies and
Trust for Business Associates and Employees, the company
said.
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ICRA
Mutual Fund Ranks awards announcement today
Mumbai: ICRA Online Mutual Fund Ranks will announce
the winners of its mutual fund awards for the year on
Monday. ICRA awards MFs based on their performance across
12 different categories. This is the second year of
ICRA awards.
The schemes are ranked using the methodology developed
jointly by ICRA Ltd and ICRA Online Ltd. For an MF scheme
to be eligible for the ICRA Online MF Ranking it must
have declared its net asset values (NAVs) for one and
three years (depending on the ranking horizon) and made
full portfolio disclosure (monthly and quarterly) during
the ranking horizon. The size of the fund should be
larger than 5 per cent of the category's assets under
management, and there should be at least five eligible
schemes in the category.
Only growth options of open-ended MF schemes are considered
for ranking.
Currently, the ICRA Online MF Ranks are assigned in
12 different categories, including liquid, debt - short
term and long term, gilt - short term and long term,
diversified equity - defensive and aggressive, index
and equity-linked savings schemes.
The ranks are a result of an in-depth analysis of certain
critical parameters, including risk adjusted return,
portfolio concentration characteristics, liquidity,
corpus size, average maturity and portfolio turnover.
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