OIL to pay 80 pc total dividend
New Delhi: Oil India Ltd has decided to pay a final dividend of 80 per cent, making the total dividend for 2005-06 to 265 per cent against the total dividend of 160 per cent for 2004-05. OIL recorded a total income of Rs6,036.56 crore, which is higher by 46 per cent compared to last year. Profit after tax during 2005-06 was Rs1,689.93 crore against the PAT of Rs1,061.68 crore in the previous year. The increase in total income and the profit were mainly on account of higher sales volume of crude oil and natural gas, coupled with increase in crude oil price, the company said.
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GMR Infra lists at Rs215
Mumbai: The stock of GMR Infrastructure debuted on the bourses on Monday at Rs215, at a slight premium against its issue price of Rs210 in a flat market.

The stock witnessed an intra-day high of Rs219.80 before closing at Rs210.30.

During the offer the issue was oversubscribed 6.5 times and the issue price was fixed at Rs210. The company had offered 3,81,36,980 equity shares, out of which 60 per cent was reserved for qualified institutional buyers, 10 per cent for non-institutional investors and the rest for retail investors.
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CanBalance, CanExpo declare dividends
Kochi: Canbank Mutual Fund has declared dividend for CanBalance and CanExpo schemes.

CanBalance, an open ended balanced scheme investing in long-term equity, debt and fixed income securities market, has declared a dividend of 15 per cent. With a face value of Rs10, this would work out to Rs1.50 per unit. The NAV of the scheme was Rs17.25. The equity-oriented open-ended CanExpo scheme has declared a dividend of 25 per cent. The scheme, which invests in equities of companies with substantial foreign exchange earnings, has a face value of Rs10 and returns work out to Rs2.50 per unit. The NAV of the scheme was Rs19.94.

The dividend declared is tax free in the hands of the investors.
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JP Morgan Asset Management raises funds worth $360mn
Mumbai: JP Morgan Asset Management has raised $ 360 million through its India Property Fund with capital commitments from institutional and high net worth investors from the USA, Asia, Europe and the Middle East. The fund focuses on the India real estate marketplace and extends the JPMorgan Asset Management to real estate platform of products to the emerging markets space, complementing its existing suite of core, core-plus and value-added property funds.

Through joint ventures with local developers, JPMorgan Asset Management will target India's key economic centers including Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, New Delhi, and Pune, with selective investments in other cities that are emerging as key economic centers at the national or regional level, including Surat, Vizag and Nagpur.
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