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Vishal
Retail surges on listing
Mumbai: Vishal Retail listed at Rs472 on the BSE,
a premium of 74.8 per cent (Rs202) to its issue price
of Rs270.
Early
trades saw the stock zoom to a high of Rs809.
The
stock is now trading at Rs757, and around 8.25 lakh shares
have changed hands at the counter.
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Assets
under management by MFs dip 3.17 per cent in June
Mumbai: The assets under management (AUM) of the mutual
fund industry saw a sharp decline in June, a drop of 3.17
per cent from May, as per the data released by the Association
of Mutual Funds in India.
In
May, MFs saw a record surge in assets, with the industry
crossing the Rs50,000 crore-mark. The heavy inflows then
were on account of surplus liquidity in the system, as
call rates had dipped below one per cent and Fixed Maturity
Products of mutual funds had gathered sizeable amounts
of assets.
With
liquidity returning to normalcy the money, which was earlier
parked in liquid funds of very short durations by banks
and other institutions, has flown out of the fund industry,
contributing to the drop in assets.
The
industry asset base for June stands at Rs4,00,842.12 crore
from Rs4,13,968.65 crore in May.
ICICI
Prudential Mutual Fund witnessed the steepest fall in
AUM by Rs7,089.24 crore or 13.98 per cent. This is followed
by Birla Sun Life Mutual Fund, which recorded a 17.68
per cent drop in AUM by Rs4,194.13 crore.
Reliance
Mutual Fund, which gained Rs713.53 crore in June at Rs59,857.01
crore, continued to be the fund house with highest AUM
for the fourth consecutive month. Following Reliance MF
is ICICI Prudential MF at Rs43,613.76 crore, UTI MF at
Rs39,031.87 crore, HDFC MF at Rs35,629.81 crore and Franklin
Templeton MF at Rs26,469.44 crore.
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SBI
to offer online share trading facility
New Delhi: State Bank of India will formally launch
an online share trading facility for its customers in
Delhi on July 4. This facility would however be available
at select branches only.
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HDIL
oversubscribed 6.60. times on the BSE and NSE
Mumbai: The initial public offering of Housing Development
and Infrastructure Ltd was oversubscribed 6.60. times
on the BSE and NSE at 7.30 pm.
A
total of 19.60 crore bids were received against the issue
size of 2.97 crore , while 1.31 crore bids were received
at the cut-off price.
Bids
were received across the price band of Rs430-Rs 500.
The
qualified institutional buyers category was oversubscribed
10.13 times while the retail individual investors portion
was subscribed 1.59 times.
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BEML
subscribed over 30 times
The follow-on issue of Bharat Earth Movers Ltd was subscribed
over 30 times, one day before its close.
A
total of 15.01crore bids were received against the issue
size of 49 lakh shares while 60.72 lakh bids were received
at the cut-off price. Bids were received across the price
band of Rs1,020-Rs1,090.
The
QIB portion was subscribed 63.33 times while the retail
investor portion was subscribed 3.19 times.
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V
Guard plans IPO in Oct
Kochi: Electrical and electronic appliances company,
V Guard, is planning to come out with a Rs70-crore IPO
in October.
The
company said a part of the proceeds from the equity offer
would be used for opening new factory in Himachal Pradesh
and Uttarakhand. The remaining would be invested in creating
a new cable factory, extending the distribution and service
network mainly in North India and for creating improved
R&D facilities.V Guard has a strong presence in the
whole spectrum of voltage stabilisers, fans, pumps, cables,
solar water heaters, electric water heaters and UPS in
the South.
The
company recorded a 31 per cent growth in sales turnover
to Rs241 crore (Rs184 crore) and has targeted a turnover
of Rs320 crore for the current year. Its net profit grew
by 45 per cent to Rs13.32 crore last year, while gross
profit recorded a 44 per cent growth to Rs20.49 crore.
There was a fall in the EPS from Rs30.68 to Rs13.96 as
on March 2007.
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