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Personal finance Monday

DSP BlackRock MF unveils FMP-12M-Series 11; L&T Mutual Funds introduces 91 days scheme; DSP BlackRock MF floats FMP-3M-Series 26; Shekhawati Poly-Yarn enters capital market;  Trade in sugar futures restarts on 27th December

DSP BlackRock MF unveils FMP-12M-Series 11

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-12M-Series 11, a close-ended income scheme.

The primary investment objective of the schemes is to seek capital appreciation by investing in debt and money market securities. It is envisaged that the scheme will invest only in such securities which mature on or before the date of maturity of the schemes. The schemes may also use fixed income derivatives for hedging and portfolio balancing. The tenor of the schemes is 12 months. The schemes offer growth and dividend (payout) option.

The new issue opens on 27th December and closes on 28th December. The minimum investment amount is Rs10,000.

CRISIL Short Term Bond Fund Index is the benchmark index. The schemes will be managed by Dhawal Dalal.

L&T Mutual Funds introduces 91 days scheme

L&T Mutual Fund has launched L&T FMP-II (December91D B), a close-ended income scheme.

The investment objective of the scheme would be to achieve growth of capital through investments made in debt/fixed income securities maturing on or before the maturity of the scheme.

The scheme offers growth and dividend (payout) option. The tenor of the scheme is 91 days. The exit load will be nil. The minimum investment amount is Rs5,000. The new issue opens on 27th December and closes on 28th December.

CRISIL Liquid Fund Index is the benchmark index. Bekxy Kuriakose is the fund manager.

DSP BlackRock MF floats FMP-3M-Series 26

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-3M-Series 26, a close-ended income scheme.

The primary investment objective of the schemes is to seek capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the Schemes. The schemes may also use fixed income derivatives for hedging and portfolio balancing.

The tenor of the schemes is three months. The schemes offer growth and dividend (payout) option.The new issue closes on 27th December. The minimum investment amount is Rs10,000.CRISIL Liquid Fund Index is the benchmark index. The schemes will be managed by Dhawal Dalal.

Shekhawati Poly-Yarn enters capital market

Shekhawati Poly-Yarn is entering the capital market with its initial public offer (IPO) of 12 million equity shares on 27th December. The firm intends to raise Rs36 crore through IPO at the set price of Rs30 per share.

This issue is likely to represent 54.54% of the totally diluted post issue capital to be raised by the firm through the sale of its common shares.

The firm is involved in producing both texturised as well as twisted yarn. It intends to start the production of knitted fabric from texturised yarn. It has also stated that the revenue generated from the sale of shares would be utilised for purchasing 30 new twisting machines as well as for setting up 30 knitting machines, purchasing a corporate office at a projected cost of Rs3.25 crore and also for fulfilling the working capital requirements of the company.

This expansion is likely to increase the capacity for twisting yarn with a potential of 4,620 MTPA, yarn knitting with a capacity of 1,980 MTPA and 20 machines for texturing yarn with a potential of 27,400 MTPA.

This expansion is likely to increase the capacity for twisting yarn to 4,620 MTPA, yarn knitting to 1,980 MTPA and by adding 20 texturing machines; production of the same would rise to 27,400 MTPA.

Trade in sugar futures restarts on 27th December

Futures trading in sugar resumes on 27th December after a gap of one-and-a-half years, with the country's top two national exchanges-the Multi Commodity Exchange and the National Commodities and Derivatives Exchange-launching new contracts.

The government had banned sugar futures trading on 27 May 2009, to control rising prices of the sweetener. The ban was valid till 30 September 2010, following which it was allowed to lapse by the regulator, the Forward Markets Commission (FMC).

However, despite lifting the ban, FMC did not permit immediate relaunch of sugar futures trading, as it was waiting for realistic estimates of production in the 2010-11 sugar year (October-September).

"We will offer contracts for six months from January to June, 2011," an MCX spokesperson said, adding that delivery would be linked to the Delhi, Uttar Pradesh and West Bengal markets.

In a circular, NCDEX said three futures contracts for sugar trading would be available for January, February and March 2011.

"The correlation between the futures contract prices and spot market prices is high. As the exchanges enable a transparent interplay of demand and supply forces, leading to efficient price discovery, the domestic sugar industry will definitely benefit from the re-introduction of sugar futures," MCX deputy managing director PK Singhal said.

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