UTI Mutual launches Dividend Yield Fund
Mumbai: The UTI Mutual fund has launched its Dividend Yield Fund, saying that the portfolio of the fund should give good returns, making it a more viable investment vehicle despite fluctuations, especially in light of the fact that with interest rates going up, debt funds may no longer be attractive to investors.

The investment strategy of the scheme would focus on identifying and investing in a basket of high dividend yield companies, which are expected to declare dividends on a consistent basis. This will also provide an opportunity for capital appreciation due to the high intrinsic value of the underlying stocks.

According to UTI AMC, the fund would ideally be suited for investors who are just beginning to invest in equities and for those who booked profits at 5000-5500 levels of the Sensex and who now want to re-enter the market.

The fund would have a larger portfolio of about 70 stocks. Of this, 65-100 per cent would be invested in high dividend yield stocks and up to 35 per cent can be invested in other stocks. The fund manager would also evaluate business fundamentals, management competence, growth prospects and industry scenario other than dividend yield.

The fund would be benchmarked against the BSE 100 index. The initial public offer of the fund is open from April 11 to May 3. The minimum initial investment is Rs5,000.
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Bharti and BSE tie up for live quotes
Mumbai: Bharti Tele-Ventures has announced the launch of the country's first stock and portfolio tracker on mobile phones in association with the Bombay Stock Exchange. The service named Airtel Portfolio Manager is made available nationally to both Airtel (Bharti's brand) post-paid and pre-paid customers using GPRS/EDGE phones.

By using this service, the customers would be able to view live quotes of chosen stocks and analyse the status of their portfolio through Airtel Live. The service can be accessed even while roaming all over India and in 20 different countries where Airtel has GPRS roaming agreements.

The service is priced at a fixed rate of Rs150 per month.Meanwhile the company's Board meeting scheduled for April 27 or April 28 will consider the conversion of domestic shares into American Depository Receipts. The company had earlier said that it planned to convert up to 200 million shares or 11 per cent of its equity to ADRs. Private equity firm Warburg Pincus would also be free to convert its shares, which currently amount to a 5.8 per cent equity stake in Bharti.
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3i Infotech IPO oversubscribed - issue price fixed at Rs100
Mumbai: 3i Infotech Ltd has decided to fix the issue price of its initial public offering at Rs100 per share. The IPO of the company, which closed on April 4, was oversubscribed more than six times, and received more than 1.72 lakh applications accounting for a total demand of over 12.1 crore shares, a company news release has said.

While the institutional portion was subscribed 5.16 times, with a total demand for over 5.05 crore shares, the non-institutional portion was subscribed 5.28 times, with a total demand for over 1.55 crore shares. Over 99 per cent of the demand was at the top end of the price band of Rs90-100.

The employee reservation portion received a total of 220 applications, accounting for a total demand of 1.67 lakh shares.
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