Tata mutual to launch open-end debt scheme
Mumbai: Tata Asset Management has filed initial papers with the Securities and Exchange Board of India to launch an open-end debt mutual fund scheme.

Tata Treasury Manager Fund will invest at least half its assets in debt and money market instruments with maturity of up to one year and the rest in instruments with longer maturity, the asset manager said in its offer document.

The fund house managed assets worth about 126 billion rupees at the end of March, data from Association of Mutual Funds in India showed.
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DSP ML unveils income scheme
Mumbai: DSP Merrill Lynch Fund Managers has launched DSP Merrill Lynch Strategic Bond Fund, an open-ended income scheme. The new fund offer commences on April 23 and closes on May 3. DSP Merrill Lynch Strategic Bond Fund will invest across fixed income securities and maturity durations. The scheme focuses on optimising returns while endeavouring to maintain commensurate risk.

The minimum investment in the scheme is Rs5,000 for the regular plan and Rs5 crore for the institutional plan.
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BSE launches magazine
Mumbai: The Finance Minister, P. Chidambaram, today launched the BSENSEX, a magazine from the Bombay Stock Exchange.

"This initiative should hopefully help to bring more retail investors to the stock markets," said Mr Chidambaram.
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Holcim hikes stake in Ambuja Cement
Zurich: Holcim has raised its stake in Ambuja Cements to nearly 30 per cent in a deal worth approximately Rs3.27 billion ($78 million).

Around 27.97 million Ambuja shares, roughly 1.8 per cent of all shares, were traded in a block deal on the Bombay Stock Exchange at Rs116.90 per share on Monday.

Holcim owns nearly 28 per cent in Ambuja Cements at present.

In February, Holcim made a $492 million buyout bid for its majority-controlled Canadian unit, St Lawrence Cement and raised its stake in Ambuja Cement India.
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