Archive for February 4th, 2008
Kotak Tax Saver from Kotak Mutual Fund has announced a dividend of 35%. The record date for the dividend distribution will be taken on February 8, 2008. Kotak Tax Saver is an ELSS Tax Saver Mutual Fund.
This is the second time that the scheme is announcing a dividend. The earlier dividend announcement was for 30% announced in February last year.
Kotak Tax Saver has Krishna Sanghavi, Anurag Jain as its fund manager and has a corpus of Rs. 466.26 Crores. Its first allotment on November 23, 2005.
The scheme as Petroleum Products, Textile Products, Construction, Finance and Banking as the top five sectoral holdings. Financial Services, Construction, Energy, Metal & Metal Products form the top 4 sectoral holdings. (as of Dec 31, 2007)
NAV of the scheme as of February 1, 2008 is as follows:
Kotak Tax Saver-Scheme-Dividend: Rs. 15.579
Kotak Tax Saver-Scheme-Growth: Rs. 19.579
February 4th, 2008
HSBC Equity Fund of HSBC Mutual Fund has announced a dividend of 100%. The record date for the dividend is fixed as February 8, 2008.
The HSBC Equity Fund has Mihir Vora & Jitendra Sriram as its Fund Managers. The fund has its first allotment date as of December 10, 2002. The fund size is Rs. 1475.1357 Crores and takes BSE 200 as its Benchmark and has an investment style of Blend and Midcap and Large cap orientation.
The scheme has Banks, Construction, Telecom - Services, Consumer Non Durables and Oil as the 5 top holdings. Reliance Industries, Jaiprakash Associates, State Bank of India, Bharti Airtel and Reliance Communications are the top 5 holdings. (Details as of December 2007)
HSBC Equity Fund has announced 10 dividends so far. The last three dividends are on March 24, 2006, October 6, 2006 and March 16, 2007.
The NAV of details of the mutual fund scheme as on February 4, 2008 are follows:
HSBC Equity Fund – Dividend: Rs. 43.0795
HSBC Equity Fund – Growth: Rs. 103.9348
February 4th, 2008
The news of various brokerage firms giving their list of downgrades and upgrades has pulled the financials into the red as most of the US stock indices opened the Monday morning in the red.
NASDAQ, DJIA are down 0.62%, S&P 500 is down 0.73%, Russell 1000 is down 0.73%. Most advancing stocks on the NASDAQ include Sigmatel, Inc., Carmike Cinemas, Inc. , SunOpta, Inc. , Labopharm Inc. , and Synutra International, Inc.
Sigmatel, Inc.(SGTL), a company into analog intensive, mixed-signal integrated circuits (ICs) for the digital multimedia market and a small cap stock on the NASDAQ, has gained attention this morning after news that Freescale is paying $110 million, or $3.00 per share in cash, to acquire the small integrated circuits designer. The stock is at $2.85; +1.06 (59.22%) at 9:59AM ET
February 4th, 2008
The Indian stock markets plunged at the opening bell, went on gaining points but reversed the course in the last two hours of trade finally closing in the positive region.
The Sensex closed up 18,660.32 up by 417.74 points or 2.29%. The BSE Midcap Index is up 3.14% while the BSE Small Index is up 2.87%. NSE Nifty last ticked 5463.50 points and is up 2.75%. Nifty Junior is up 3.09%. CNX IT is up 4.50% while Nifty Midcap 50 is up 4.15%. On the BSE Sectoral Indices, Realty, IT, PSU and Metal are up 3%.
IT stocks had a good day today. While the large cap stocks maintained their gains, few select midcap IT stocks took a plunge. Rolta is up 23.37%, Mphasis is up 10.99% while Tech Mahindra is up 6.22%. Few analysts gave a buy rating for Mphasis with a target of Rs. 357. Mphasis opened that day at Rs. 255.00, touched an intraday high of Rs. 285.00 and intraday low of Rs. 250.15 and closed at 274.65 on the NSE
Sans the HDFC Bank, almost all Banks on the Bank Nifty had a good day. ICICI Bank closed up 1.18%, SBI and Bank of India are up over 4%, Union Bank is up 8.55% and Oriental Bank of Commerce is up 9.14%.
Yes Bank is up 1.62% today. The script last traded at Rs. 257.70 and is now carrying an Accumulate rating by analysts.
February 4th, 2008
Draft offer documents for the following mutual fund schemes are submitted and are put for public view and commenting:
Mirae Asset Short Term Bond Fund
Sundaram BNP Paribas Select Thematic Funds - Financial Services Opportunities
February 4th, 2008
Previous Posts