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SBI Mutual Fund plans to launch Islamic equity fund next month: reports
The scheme opens on December 1 for subscription and closes on December 15.SBI Mutual Fund is planning to launch an Islamic equity fund next month, says report."We will be launching the SBI Shariah Equity Fund on December 1. The open-ended scheme will be a diversified equity fund, including large, mid and small cap companies," SBI MF Chief Marketing Officer DP Singh reported. The scheme opens on December 1 for subscription and closes on December 15.

RBI allows Just Dial to raise foreign shareholding to 75%; stk gains
Shares of Just Dial gained over 3%, touching to Rs1620.9, after the RBI notified that foreign institutional investors/registered foreign portfolio investors can invest up to 75% of the company's equity capital from earlier 49%.The Reserve Bank of India yesterday, notified that foreign portfolio investors (FIIs)/registered foreign portfolio investors ( RFPIs) can invest up to 75% of its equity capital from 49% earlier. Just Dial has already passed resolutions at its board of directors' level and a special resolution by the shareholders agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs, the RBI said. Total holding of FIIs in Just Dial stood at 26.64% as on September 30, 2014.

Bajaj Corp surges 5%
The company's board approved hike in FII investment limit to 49 per cent. Bajaj Corp rebounded into the positive zone in the mid-noon deals, and zoomed to a high of Rs. 335 after the board passed a resolution approving hike in FII investment limit. The board has approved hike in FII investment limit to 49 per cent from present 24 per cent. Following which, the stock soared 7.3 per cent in intra-day deals. The stock now continues to trade on a firm note and is up 4.8 per cent at Rs. 330. The counter has seen trades of around 181,000 shares as against the two-week daily average volume of around 1.30 million shares on the BSE.

DLF zooms after SC grants relief
The stock has jumped almost 7 per cent from the days low.DLF recovered all the early losses and bounced sharply into the positive terrain after Supreme Court granted status quo on HC order of reauctioning land. Punjab & Haryana HC had cancelled 350 acres of land allotment. he stock zoomed almost 7 per cent from the day's low of Rs. 145 to touch a high of Rs. 155. Currently, DLF is up 3.3 per cent at Rs. 153.So far during the day 1.7 million shares have been traded at the counter, as compared to its two-week daily average volume of 1.6 million shares on the BSE.

BF Utilities Q4 net Profit falls 26% (YoY)
BF Utilities has announced the following audited results for the quarter & year ended September 30, 2014 (YoY):For the Quarter ended September 30, 2014Net profit of the company fell by 25.78% to Rs4.26 crore Vs Rs5.74 crore (YoY).Total Income decreased by 21.81% to Rs9.71 crore Vs Rs12.42 crore (YoY).For the Year ended September 30, 2014.Net profit of the company fell by 73.61% to Rs1.29 crore Vs Rs4.89 crore (YoY).Total Income decreased by 14.92% to Rs25.19 crore Vs Rs29.61 crore (YoY).

Cipla, Strides inks deal with MMV
Cipla and Strides Arco lab, each, has signed collaboration agreements with Switzerland-based Medicines for Malaria Venture ( MMV) for the development of rectal artesunate for pre-referral treatment of children with severe malaria. The collaborations are done under the MMV-led Improving Severe Malaria Outcomes project, funded by UNITAID, aims to develop a rectal artesunate product for submission to World Health Organisation ( WHO) prequalification. The goal is to achieve WHO-prequalification of a rectal artesunate product by 2016.

RIL up after CAG allows to recover cost incur on KG-D6
Reliance Industries Ltd  ( RIL) rose nearly 3%, touching to Rs1016.2, after the a Comptroller & Auditor General ( CAG) panel asked the government to allow the company to recover $160 million of cost incurred on the KG-D6 block and suggested the government to resolve all pending issues of the company. the panel said the government should act to raise KG-D6 output which fell drastically in the last three years. The panel has also asked the oil ministry to approve the RIL’s D6's budget on time.  

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