Archive for January, 2007
India is a hot market that no international financial group can afford to skip – particularly in the year 2007. While many global funds, banks and financial groups have already lined up with their plans to enter into the Indian Mutual Fund industry, the availability of Standard Chartered AMC put up for sale has come handy for few.
News just rolled in that Standard Chartered AMC was acquired by the UBS AG for a reported consideration of about $118 – 120 Million (Rs.520 – 530 crore).
January 29th, 2007
Nifty ended at 4124.45 - Down by 23.25. Sensex ended at 14211.96 Down by 70.76. The Rupee is trading at 44.21
January 29th, 2007
The markets continued to hover in the red terrirory.NIFTY is currently at 4143.45.
Sakuma, NovaPanInd, BuilPower, MSPL, Balmlawrie, IndiaBulls are in the top gainers list while Mahindugin, GMBrew, DynaCons, Suzlon, LCC Infotech are in the red.
January 29th, 2007
The markets opened positive and are gradually making way into the positive territory. NSE Nifty is at 4147.70.
BilPower, NovapanIndustries, PTL, AGL are amongst the early gainers of the day. SHRIRAMCIT,PRECWIRE,ANT Graphic, GMBRew are witnessing selling pressure.
January 29th, 2007
The Tokyo-based Shinsei Bank is forming a joint venture Asset Management Company (AMC) with India’s nationalized-bank Andhra Bank to enter into the Indian Mutual Fund market. The bank feels that large distribution reach of Andhra Bank will help it expand quickly and reach a wide range of customers. With this Shinsei Bank becomes the second Japanese company to enter India. Only few days back, Nikko Asset Management tied up with Ambit RSM for the AMC business.
Back in November 2006, Shensei Bank had a tie-up with UTI AMC for launching a diversified offshore fund.
Other foreign companies that are planning an Indian entry, many of them probably during this year include Mirae Asset, UBS, Aviva and Pioneer.
January 28th, 2007
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