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NYMEX and MCX sign MoU to develop business oppurtunities
Mumbai: The New York Mercantile Exchange Inc (NYMEX), and the Multi Commodity Exchange of India Limited (MCX) announced on Monday that they have signed a memorandum of understanding to explore areas of co-operation that could mutually benefit the exchanges.

MCX offers light sweet crude oil and Brent crude oil futures contracts.

The exchanges will work together to develop areas of co-operation and business opportunities with the goal of assisting and benefiting the underlying producers, end-users, and investors in their commonly traded products by maximising the application of international best practices for price risk management and exchange operations.
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DSP Merrill Lynch launches Super S.I.P
Visakhapatnam: DSP Merrill Lynch on Monday launched the Super S.I.P, a one-of-a-kind scheme, which will facilitate investments through a monthly plan and provide an insurance cover as well.

Through a press release the company has said that the scheme envisaged systematic monthly investments, with free life insurance cover up to Rs20 lakh. The scheme was subject to no medical check-up, and also provided high liquidity and flexibility.

According to the company, the investor would have a wide choice of schemes, with the option to switch among them anytime and any number of times with no charge. The variable insurance cover would be available for tenures of 6, 11 and 16 years and the fixed cover for a tenure of 21 years.
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KM Sugar Mills IPO opens on Oct. 14
Mumbai: KM Sugar Mills Ltd has said that it plans to enter the capital market with an IPO to raise Rs33.28 crore to fund its expansion programme.

The company, which has a sugar plant in Faizabad district, Uttar Pradesh, is making the offer of 64 lakh equity shares of Rs10 each at a premium of Rs42 per share.

The company plans to increase its cane crushing capacity from 4,500 tonnes crushed per day (TCD) to 6,500 TCD.

KM Sugar estimates a total investment of Rs37.56 crore for the expansion and working capital requirements, along with incidental expenses.

The IPO is slated to open on October 14. The issue is being lead managed by UTI Securities and closes on October 19.
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