UTI Mutual Fund looks to offer India investment fund in other Asian markets
Kolkata: UTI Mutual Fund is planning to expand business operations into other markets, utilizing its tie up with Shinsei Bank for the purpose. According to fund officials, they would like to draw on Shinsei's influence in other markets in Asia.

UTI would like to offer its open-ended Shinsei-UTI India Fund, which so far has already attracted over $300 million from investors, in other markets as well. This fund enables investments in stocks listed on Indian exchanges.

The two partners had announced the tie-up last year, under which Shinsei was to distribute India-specific investment products, managed and advised by UTI, to Japanese investors. The fund's investment objective is to grow the assets with a medium- and long-term perspective.

Shinsei, which offers institutional and retail banking as well as consumer and commercial finance, has $84 billion in total assets on a consolidated basis as of June 2006.
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Glory Polyfilms debuts at 4 per cent premium
Mumbai: The shares of Glory Polyfilms got listed on the BSE on Monday at Rs50, a premium of 4.16 per cent, against the issue price of Rs48.

It touched an intra-day high of Rs84 before closing at Rs61.85.

On the NSE, the stock made its debut at Rs48. The shares reached an intra-day high of Rs84 before closing at Rs62.10. Total traded quantity of shares was 1.57 crore and 1.63 crore on the BSE and NSE respectively.
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Geodesic Info to offer 1:2 bonus
Mumbai: Geodesic Information Systems has recorded a 176.3 per cent rise in consolidated net profit to Rs31.12 crore for the quarter ended March 31 2007, as against Rs11.25 crore reported in the corresponding year-ago quarter.

The company's income from operations for this period was up by 64.46 per cent to Rs49.01 crore (Rs29.8 crore).

For the year ended March 2007, Geodesic's net profit was up by 111.2 per cent to Rs88.69 crore (Rs41.98 crore). Income from operations for the period stood at Rs167.9 crore (Rs96.72 crore).

The company has also announced a 10 per cent final dividend, which would take the total dividend for the year to 20 per cent.

It has also recommended a 1:2 bonus offer to the shareholders.

The Geodesic stock was up 10 per cent, at Rs274.5 at the close on the BSE on Monday.
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