Baroda Pioneer Mutual Fund new fund offer closes 19th October
Baroda Pioneer Mutual Fund has launched Baroda Pioneer 367 Day Fixed Maturity Plan-Series 2, a close-ended income scheme.
The investment objective of the scheme to generate regular returns by investing in a portfolio comprising debt instruments and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is 367 days.
The new issue closes on 19 October 2011. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Alok Sahoo and Hetal Shah are the fund managers.
India’s largest selling car now comes in limited edition models from Maruti Suzuki
Maruti Suzuki today introduced limited editions of its highest selling brand Alto. Branded as Alto Xplore, this limited edition is packed with exciting new features, both on the inside and outside. The Xplore models are loaded with more than 10 new convenient features.
The all new limited edition of Alto is launched to coincide with the ongoing festive season. The limited edition is available in top variant—Alto Lxi and Alto-K10 Vxi.
The Alto Xplore models will be available in 6 Colours in both models and will sport an advanced double-din stereo with USB and Bluetooth, Luxurios Leather Seats, Exciting Body graphics, Body coloured bumpers, ORVMs and door handles and Sporty Roof Spoiler.
Alto has sold over 1.48 lakh units in this financial year. Maruti Suzuki launched Alto-K10 in August 2010 which accelerated the sales of India’s best selling model Alto.
On the occasion of launch of the limited editions, Mr. Shashank Srivastava, chief general manager–marketing, Maruti Suzuki India, said “Alto has been the favourite hatchback for Indians. With festive season coming up customers look forward for exciting offers. With the introduction of this limited edition we will cater to this need of Alto buyers.”
Compact and sleek, easy to handle Alto has been India’s bestselling with over 18.11 lakh customers for its lowest cost of ownership, performance and mileage. The car is targeted at wide spectrum of buyers with starting price of 2.32 lakhs ex showroom Delhi and offers different models such as Alto, Alto CNG and Alto K10. It delivers best performance of 68 ps power with advance k-series engine and delivers a high mileage of 20.2 kmpl.
In the late afternoon, Maruti Suzuki was trading at around Rs1073.05 per share on the Bombay Stock Exchange, 1.18% down from the previous close.
Income tax sleuths today searched the premises of Nikhil Gandhi-promoted SKIL Group, which runs Pipavav Shipyard in Mumbai and in the national capital for suspected tax evasion
I-T searches at Pipavav group firm in Mumbai, Delhi Income tax sleuths today searched the premises of Nikhil Gandhi-promoted SKIL Group, which runs Pipavav Shipyard, in Mumbai and in the national capital for suspected tax evasion.
"We conducted the searches from this morning," an I-T source said, adding that though it is being treated as a case of "regular tax evasion" as of now, the department may look into the insider trading aspect as well. An SKIL spokesperson confirmed that I-T officers "visited" its offices in Mumbai and Delhi, and said that the management is cooperating. The I-T sources said they have questioned the brother and sister-in-law of Gandhi and the searches are expected to continue tomorrow. However the company chairman Gandhi, who is away in Delhi, has not been questioned yet, they added.
Shares of SKIL Group's flagship company, Pipavav Defence and Offshore Engineering, tanked by over 4% as the news of the searches trickled in during the trading hours, but recovered to close 0.95% down at Rs83.15 on the BSE, whose 30-share Sensex closed 2.55% up at 16,958 points.
Pipavav has been in the news recently for a controversial joint venture it had forged with state owned Mazgaon Docks for construction of vessels for the Navy.
The private company's rivals, including Larsen & Toubro and ABG Shipyard, were quick to cry foul and also got the Defence Ministry to stall the proposal.
However, in a recent media report, a senior defence ministry official was quoted as saying that the ministry has found "no malafide" in selection of partner by the Mazgaon Dock. The fate of the JV is not yet clear.
In the late afternoon Pipavav Defence and Offshore Engineering was trading at around Rs81.80 per share on the Bombay Stock Exchange, 1.62% down from the previous close.