Archive for September 25th, 2008
Religare AEGON Asset Management Company got the nod from the regulator SEBI to start mutual fund operations in India. Religare AEGON AMC is a joint venture of Religare and AEGON.
The new AMC says it is planning to launch its first product in the months of November / December 2008. The AMC is planning about 15 branches at the time of the start of its operations and is planning to expand to 25 cities by March 2009 and atleast 100 branches within two years with a focus on Tier II and Tier III cities.
September 25th, 2008
Scheme Name
DWS Fixed Term Fund Series 60
Objective of Scheme
The objective of the Scheme is to generate regular income by investing in fixed income securities / money market instruments usually maturing in line with the time profile of the fund.
Scheme Type
Close Ended
Scheme Category
Balanced
New Fund Launch Date
16-Sep-2008
New Fund Earliest Closure Date
25-Sep-2008
New Fund Offer Closure Date
25-Sep-2008
Indicate Load Separately
Entry Load : Nil Exit Load : 2% if the investor redeems any time before the maturity date.
Offer Price (Rs.)
10
Minimum Subscription Amount
5000
September 25th, 2008
Thursday, September 25, 2008 4:23:16 PM IST
The stock markets had taken yet another bad session. Nifty lost 1.29% to close at 4107.55 while Sensex has shed 156.15 points to close at 13536.37 down by 1.14%. All BSE Sectoral indices closed in the red.
CNX 100 is down 1.25% while CNX 500 is down 1.13%. CNX IT is down 1.25%. MPhasis and CMC are down over 6% today followed by HCL Tech, Wipro and Polaris that have seen a relatively bad session. HCL Insys and Rolta managed to stay in the green.
Bank Nifty is down 0.62%. Axis Bank, HDFC Bank, Bank of Baroda, Union Bank of India and Bank of India closed in the green while Canara Bank, Kotak Bank, Punjab National Bank, SBI and Oriental Bank of Commerce closed in the red.
Top losers on the Nifty are Suzlon, Nalco, Siemens, HCL Tech, Tata Communications, Wipro, Ranbaxy, Hindalco, Grasim and ACC. Top Nifty losers today are Reliance Power, Hero Honda, HDFC Bank, Zee Limited, Maruti, ABB, ONGC, L&T, Ambuja Cements and NTPC.
The BSE Midcap and Smallcap indices closed marginally in the red. The broader BSE 100, BSE 200 and BSE 500 are down little over 1% each. All sectoral indices on the BSE closed the day in the red. Realty and IT are down over 2% each.
1 U.S. dollar = 46.0511 Indian Rupees
1 U.S. dollar = 105.6970 Japanese Yens
1 U.S. dollar = 0.6801 Euros
1 Ounce Gold = $886.90
1 Barrel Crude Oil = $104.47
September 25th, 2008
Thursday, September 25, 2008 10:41:48 AM IST
Indian stock markets are trading in the red this morning. Nifty is down by 0.64% at 4134.70 while Sensex shed 56.34 points and is at 13636.18 down 0.41. Large cap stocks Infosys, TCS, Satyam, HCL are all in the red.
The CNX 100 is down 0.61% while CNX 500 is down 0.47%. CNX IT is down 0.96% while Bank Nifty is down marginally by 0.06%
Top Nifty losers in the early trades include Suzlon, Bharti Airtel, Satyam, Sterlite, Power Grid, ONGC, Unitech, Grasim, TCS and NTPC. On the other hand, the gainers pack is lead by ITC, Hero Honda, HDFC, Unileaver, Sun Pharma, L&T, Tata Power, Cipla, HCL Tech and ABB.
BSE Midcap and Smallcap indices are marginally in the red. FMCG, Health Care, Consumer Durables and Auto are gaining whule Teck, Realty, IT, Power, PSU, Oil & Gas are weak.
1 U.S. dollar = 45.8295 Indian Rupees
1 U.S. dollar = 105.7641 Japanese Yens
1 U.S. dollar = 0.6828 Euros
1 Ounce Gold = $887.70
1 Barrel Crude Oil = $105.88
September 25th, 2008
Draft offer documents of the following Mutual fund schemes are submitted to SEBI for approval and are now put on SEBI website for public view and commenting:
Edelweiss Gilt Fund
Goldman Sachs Sustain Fund
IDFC Fixed Maturity Plan
Reliance Fixed Horizon Fund XII
September 25th, 2008