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JM Basic Fund announces 36% dividend

JM Basic Fund from the JM Financial Mutual Fund has recently announced a dividend of 36% (I.e Rs. 3.60 per unit on the face value of Rs. 10). The Record Date for this is January 11, 2008. The earlier dividend is 45% in September 2007

The scheme is heavily into stocks in Construction, Metals & Metal Products and Basic/Engineering sectors, all of which has zommed and shown remarkable jumps in stock prices in the last one year or so.

Top holdings include Sintex Industries, PSL, Bharati Shipyard, Hindustan Construction Co. and Maharashtra Seamless.

The objective of the fund is “The scheme aims to invest in energy and petrochemical sector. It shall have the mandate to invest in Oil & Gas, Petrochemicals, Power Generation & Distribution, and Electrical Equipment Suppliers”. The NAV is at Rs. 29.1413 as of November 11, 2008.

Add commentJanuary 14th, 2008

Indian markets trading flat on early hours of trade

The BSE Sensex opened up by about 100 points and NSE is up 25 points. Trading looks flat as the first trades poured in. Reliance Communications is continuing to be strong. Bharti Airtel is down by 0.5%. SBI, PNB are trading in the green. Syndicate Bank and Centurion Bank are up in the green today. NALCO is up 9%. NTPC is up 1%.Unitech is down 2% or approximately Rs. 9.

Jayaprakash Associates is up Rs. 28 points this morning. RNRL is up Rs. 4.80. Manksia is trading at Rs. 142.50 levels. Hindustan Motors is trading at Rs. 71 levels

Add commentJanuary 14th, 2008