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Asian
stocks down
Mumbai: Asian stocks were weak on Wednesday. The Tokyo
Nikkei lost 197.48 points at 13,154.76, while Hong Kong's
Hang Seng index declined by 219.47 points at 14,377.93.
The
Taipei weighted index lost 127.83 points at 5,702.96 intraday,
Singapore Straits Times slipped 30.67 points to 2,252.17.
The Kuala Lumpur Composite was down 9.76 points at 912.88,
Seoul Kospi too declined by 30.67 points at 1,155.55,
Bangkok SET was lower by 4.28 points to 690.90 and in
Manila, the PSE was up by 6.96 points at 1,954.29.
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Suzlon
Energy shares debut at 23.5 pc premium
Mumbai:
Shares
of wind turbine manufacturer Suzlon Energy opened at Rs630,
a 23.50 per cent premium to the initial public offering
(IPO) price of Rs510, and entered into the day's list
of top 20 listed companies based on market capitalization.
Trading in the futures and options also started in the
stock.
It closed the day at Rs692.85 on the NSE, a premium of
35.85 per cent to the issue price. The high for the day
was Rs698.70, while the stock hit a low of Rs580.25.
The total traded quantity at the NSE was 3.04 crore shares.
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Cranes
Software to split stock, issue bonus
Mumbai:
Cranes Software International plans to split its equity
shares in the ratio of 1:5.
The
shareholders at their AGM, have approved the splitting
of existing equity share of the nominal value of Rs10
each into five equity shares of Rs2 each fully paid up,
the company informed the BSE.
The
company will also issue bonus shares in the ratio of 1:1,
that is one bonus share for every one share held.
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Investors
should have the last word: SEBI chairman
Mumbai: Securities and Exchange Board of India
chairman M. Damodaran addressing a function organised
by Financial Planning Standards Board (India), said that
investors must make their own investment decisions.
Industry
captains however, felt professional financial planners
would be able to protect investors' interest better.
Damodaran
said he felt professional planners only had a 'small role'
to play in the growth of the nation. But he suggested,
they look at expanding their services geographically.
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Sahara
MF to launch infrastructure fund
Kolkata: The Sahara Mutual Fund has announced it will
launch a scheme that will invest chiefly in companies
operating in the infrastructure sector.
The Sahara Infrastructure Fund will come with two pricing
options, fixed and variable, with growth and dividend
sub-options. The pricing options differ in the manner
in which AMC fees are charged.
The fund, with Nifty as its benchmark, will normally invest
at least 70 per cent in equities.
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Prudential
ICICI launches Services Industries Fund
New Delhi: The Prudential ICICI Asset Management Company
has announced the launch of the Prudential ICICI Services
Industries Fund, an open-ended equity scheme that seeks
to generate capital appreciation and income distribution
for unit holders by investing predominantly in equity/equity-related
securities of companies belonging to the service industry.
The balance will be invested in debt securities and money
market instruments including call money.
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