Investors of HDFC Mutual Fund Online can now make their online investments using their ICICI Bank Account. HDFC Mutual Fund is sending mailers to its customers who have mentioned ICICI Bank as their banker to use the HPIN that HDFC MF gives to access their investments online.
ICICI Bank is the largest private sector bank and needless to say, this option by HDFC MF brings in cheer to millions of its customers who have their bank accounts with ICICI Bank.
June 18th, 2008
The draft offer documents of the following New Fund Offers submitted to SEBI and put on its website for public view and commenting:
ICICI Prudential FMP Series 46
June 16th, 2008
JM Financial Mutual Fund announced dividend in two of its schemes. A dividend of 2.20% i.e Rs. 0.22 per unit of JM Arbitrage Advantage Fund – Dividend Plan. Similarly, a dividend of 2.50% i.e Rs. 0.25 per unit of JM Equity & Derivative Fund – Dividend Option. The record date for the distribution of the dividends is June 20, 2008
June 16th, 2008
The summary of todays trade can be said in just four words - range bound yet volatile. The Nifty closed the at 4517.10 down 0.49%. The CNX 100 is marginally down at 0.30%. CNX IT is up 0.51% while Bank Nifty is down by 0.10%
The BSE Sensex opened at 15,327.10 touched a intraday high of 15,337.10 and intraday low of 15,135.81 and last traded at 15,250.20. The Sensex lost 60.58 points or 0.40%. The Midcap and Smallcap indices however showed little buying interest and closed in the green. Amongst the sectoral indices, Consumer Durables and Health care closed up over 1% while inflation impact sectors such as Realty, Metal and FMCG closed in the red.
Inflation numbers that touched new highs are to be blamed for the volatility in todays trade.
Top gainers of the day include Ranbaxy which zoomed by over 4% after market rumours that Pfizer is eyeing on the non-promoter stake of Ranbaxy. Dr. Reddy, BHEL are both up 3% respectively. ICICI Bank, NALCO, TCS, Zee Limited are up by over 2% while Tata Motors, GAIL and ONGC are up over a percentage.
1 U.S. dollar = 41.4404708 Indian rupees
June 13th, 2008
The Indian stock markets opened the day in the red. Traders are in a range bound manner for the first few hours of trade but rebounded as markets continued to gain strength. The Nifty 4400 mark was closely watched but with a new wave of buying coming in, the markets continued to gain strenth and finally closed the day marginally in the green territory.
Nifty closed at 4539.35 up 0.35%. The CNX Nifty Junior closed up 0.52%. Bank Nifty is up 0.47%, CNX 100 is up 0.37%, CNX Midcap is up 0.76% and Nifty Midcap 50 is up 1.43%. CNX IT has put a poor show and closed the day marginally down by 0.07%.
The Sensex opened at 14,957.53, touched an intra-day high of 15,270.85 and low of 14,747.99 and finally closed the day at 15,250.20 and is up 0.43%. The Midcap and Smallcap indices too closed marginally in the green.
Looking at the BSE Sectoral indices, the IT, Health care and Auto are down. Consumer Durables, Oil & Gas and Consumer Goods have rebounded the most.
Ideal Cellular is up 11.02% today. The script opened the day at 96.90 and last traded at 107.80. Other gainers of the day include Reliance Petroleum, Reliance Infra, Unitech, Tata Steel, State Bank of India, Sun Pharma, L&T, BHEL and Bharti Airtel.
The losers pack is lead by Suzlon followed by Ranbaxy, HDFC Bank, DLF, Ambuja Cement, National Aluminium, Tata Communications, NTPC, BPCL and Infosys Technologies.
1 U.S. dollar = 42.5495702 Indian rupees
June 12th, 2008