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Infrastructure
scheme from Canbank MF
Kolkata: The Canbank Mutual Fund will launch a diversified equity scheme,
the CanInfrastructure that will invest in companies operating in the infrastructure
sector. The scheme will be benchmarked against the BSE Sensex.
The
scheme will select stocks from among a number of areas, ranging from engineering
and construction to telecom and transportation. Further, areas such as banking,
financial services, healthcare, power and oil & gas will also be part
of the investment horizon.
A
minimum 75 per cent of the fund's assets will be allocated to equity and equity-related
instruments, including derivatives. A maximum 25 per cent may be invested
in debt and money market instruments.
Canbank
MF officials said that the fund is based on the premise
that India will need to earmark significant resources
to upgrade its infrastructure on many fronts. Since a
number of companies stand to benefit from the investments
that are expected to be made, the funds will seek to target
such companies.
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ICICI
Mutual Fund sells 4.93 per cent stake in NDTV
Mumbai: The ICICI Mutual Fund has sold some 4.93 per cent of its stake
in NDTV in the open market. Templeton Mutual Fund picked up part of the stake.
In
a notice to the BSE, ICICI Mutual said that it sold 30 lakh shares (4.93 per
cent stake) in the company at an average price of Rs 198.99 on the exchange.
Out of these shares, Templeton Mutual Fund - through its scheme Prima Fund
- picked 17.92 lakh shares at an average price of Rs 197. ICICI Mutual held
14.93 per cent stake (90.77 lakh shares) in NDTV at the end of March 2005,
while Templeton Mutual Fund held 1.38 per cent stake.
The
stock closed at Rs211, down 1.93 per cent from the previous
close on the BSE.
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IDFC
prices IPO in the band of Rs29-34 a share
Mumbai:
The Infrastructure Development Finance Co Ltd has filed a red herring prospectus
with the Registrar of Companies for its public issue with a price band of
Rs29-34 per share of face value Rs10.
The
public issue of 40.3 crore equity shares of Rs10 each
comprises a fresh issue of 12 crore equity shares of Rs10
each and an offer for sale of 28.3 crore equity shares
of Rs10 each.
The
objectives are to achieve the benefits of listing and
raise capital to support the company's future growth in
assets.
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