New Fund -- AIG India Equity Fund
With our Mutual fund industry growing like as it has been never before newer and newer Asset Management companies (AMC) are trying to spread their hand in the Indian mutual fund indstry and the latest of the is AIG.
The AIG Global Investment Group Mutual fund group is being led by Tushar Pradhan formerly associated with HDFC Mutual fund.
This is an open ended diversified equity fund with no sector or market cap bias. The allocation to equity will be in the 80%-100% range and the allocation to debt will be maximum 20%.
The entry load is 2.25% and the exit load is 1% if redeemed a year from the date of allotment. These loads are applicable during the NFO and the ongoing offer period.
Details --
Offer opens: May 3, 2007
Offer closes: May 31, 2007
Cost per unit: Rs 10
Benchmark: BSE 100
Scheme options: Growth, Dividend payout and reinvestment
Wednesday, April 25, 2007
Tuesday, April 24, 2007
Vedanta clinches Sesa Goa deal for $980 million
Vedanta Resources has clinched the deal to acquire a 51 per cent stake in the biggest private iron ore exporter Sesa Goa Ltd for $981 million (around Rs 4,070 crore) in cash.
Sesa Goa informed the Bombay Stock Exchange on Tuesday that Mitsui & Co Ltd has sold its 51 per cent stake in the company to Vedanta Resources Plc for $981 million. The after-tax proceeds from this transaction would be around Yen 50 billion (about $423 million), it added.
Sesa Goa said Mitsui's wholly owned subsidiary Earlyguard Ltd sold its stake in UK-based Finsider International Company, which held 51 per cent stake in the firm, to two Vedanta subsidiaries - Richter Holding Ltd and Westglobe Ltd.
Mitsui & Company signed an agreement with Vedanta and sold 100 per cent of its issued shares of Finsider International for $981 million in cash.
Anil Agarwal-led Vedanta is listed on the London Stock Exchange but has most of its operations in metals such as zinc and aluminium in India. (source - thehindubusinessline)
Vedanta Resources has clinched the deal to acquire a 51 per cent stake in the biggest private iron ore exporter Sesa Goa Ltd for $981 million (around Rs 4,070 crore) in cash.
Sesa Goa informed the Bombay Stock Exchange on Tuesday that Mitsui & Co Ltd has sold its 51 per cent stake in the company to Vedanta Resources Plc for $981 million. The after-tax proceeds from this transaction would be around Yen 50 billion (about $423 million), it added.
Sesa Goa said Mitsui's wholly owned subsidiary Earlyguard Ltd sold its stake in UK-based Finsider International Company, which held 51 per cent stake in the firm, to two Vedanta subsidiaries - Richter Holding Ltd and Westglobe Ltd.
Mitsui & Company signed an agreement with Vedanta and sold 100 per cent of its issued shares of Finsider International for $981 million in cash.
Anil Agarwal-led Vedanta is listed on the London Stock Exchange but has most of its operations in metals such as zinc and aluminium in India. (source - thehindubusinessline)
Monday, April 23, 2007
Analysis of Previous Week Picks
Hanung Toys-------( at . 129 target 145 ) ( cmp . 149 up 16% )
XLTL--------------( at . 127 target 140 ) (cmp . 126 down 0.5% )
Ansal Properties---( at . 483 target 540 ) (cmp . 509 up 6% )
Mphasis -----------( at . 290 target 320 ) (cmp . 325 up 12% )
Crisil---------------( at . 3059 target 3500 ) (cmp . 3130 2.5% )
Hanung Toys-------( at . 129 target 145 ) ( cmp . 149 up 16% )
XLTL--------------( at . 127 target 140 ) (cmp . 126 down 0.5% )
Ansal Properties---( at . 483 target 540 ) (cmp . 509 up 6% )
Mphasis -----------( at . 290 target 320 ) (cmp . 325 up 12% )
Crisil---------------( at . 3059 target 3500 ) (cmp . 3130 2.5% )
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