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Mid-cap
fund from ING Vysa
Mumbai: ING Vysya Mutual Fund has launched its mid-cap
fund, an open-ended equity scheme, which seeks to provide
long-term growth of capital by investing primarily in
the mid-cap stocks, according to company officials.
The capitalisation of the companies that the fund would
invest in would range from Rs100-2,000 crore. It would
have 35-40 stocks in its portfolio and the largest shareholding
of any stock would be 5-6 per cent, company officials
said.
The initial public offering of the scheme remains open
till May 9. The minimum application amount is Rs2,000.
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Chola
Mutual launches Global Advantage fund
Mumbai: The Chola Mutual Fund has launched the Chola
Global Advantage Fund, which seeks to invest in Indian
companies that are expanding globally and expect at least
20 per cent of their turnover to be realized from exports.
It would also focus on companies that have made acquisitions
abroad or plan to foray into foreign markets. According
to fund officials, companies with a footprint in the global
markets usually have higher sales, profit and market cap
growth.
The fund's initial public offer, which is to remain open
till May 16, has Rs5,000 as the minimum application amount.
The fund would be benchmarked against the S&P CNX
500.
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BSMA
picks up stake in Adlabs
Mumbai: International firm BSMA Ltd has acquired a
7.5-per cent stake in Adlabs Films Ltd for $6 million.
The investment was made at Rs150 per share.
The proceeds of this deal will be used towards expansion
plans of the multiplex division of Adlabs. The company
is targeting to set up 30 multiplexes amounting to 150
screens across India in next 4-5 years.
It is adding 22 screens by the end of 2005 taking its
total number of screens to 40.
It has recently launched Gold Adlabs, a three-screen multiplex
in Pune and would be adding Huma Adlabs, a four-screen
multiplex situated at Powai, to its multiplex properties
in Mumbai in immediate future.
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