Religare Invesco Mutual Fund files offer document for Annual Interval Fund-Series 1 - Plan A to D

Religare Invesco Mutual Fund files offer document for Annual Interval Fund-Series 1 - Plan A to D

Sep 03,2014   10:10 Hrs IST

Religare Invesco Mutual Fund has filed offer document with SEBI to launch an Interval Income Fund as “Religare Invesco Annual Interval Fund- Series 1 - Plan A to D”. The New Fund Offer price is Rs 10 per unit. Entry and exit load charges will be nil for the scheme. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 20 crore. The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The minimum application amount is Rs 5000 per application and in multiples of Rs 10 thereafter. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the opening of the immediately following Specified Transaction Period.

Crude oil futures suffer sharp cuts on demand concern

Crude oil futures suffer sharp cuts on demand concern

Sep 03,2014   08:37 Hrs IST

Crude oil futures suffered sharp cuts on Tuesday to snap their four days gaining streak. There were concerns over demand growth prospects as the dollar strengthened against some major currencies, the greenback firmed up after the Institute for Supply Management reported that its manufacturing purchasing managers’ index jumped to 59.0 in August from 57.1 in July. Also there was weak Chinese factory data that outweighing persistent worries about the situation in Ukraine. There were mounting concerns that global supply is far outreaching demand Benchmark crude oil futures for October delivery, plunged by $3.08 or 3.2 percent to close at $92.88 a barrel after trading in a range $95.91 and $92.68 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for October delivery declined by 2.14 percent to $100.60 a barrel on the ICE.

Punj Lloyd rises on buzz of plan to sell stake in Medanta Medicity

Punj Lloyd rises on buzz of plan to sell stake in Medanta Medicity

Sep 02,2014   03:16 Hrs IST

Punj Lloyd is currently trading at Rs 39.70, up by 1.85 points or 4.89% from its previous closing of Rs 37.85 on the BSE. The scrip opened at Rs 39.70 and has touched a high and low of Rs 39.70 and Rs 38.80 respectively. So far 435653 shares were traded on the counter. The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 60.85 on 19-Jun-2014 and a 52 week low of Rs 20.25 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs 39.25 and Rs 36.40 respectively. The current market cap of the company is Rs 1318.42 crore. The promoters holding in the company stood at 37.16% while Institutions and Non-Institutions held 14.20% and 48.64% respectively. In a bid to cut its debt, Punj Lloyd is reportedly planning to sell its stake in Gurgaon-based multi specialty hospital Medanta Medicity Hospitals. The company will sell half of its 17% shareholding in Global Health, a company which owns, manages and operates the Gurgaon based hospital for around Rs 300 crore. Moreover, Singapore’s state investment company - Temasek -- is negotiating with the company to buy its minority stake in super specialty hospital -- Medanta Medicity. Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.