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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