Birla Sun Life Mutual Fund floats Capital Protection Oriented Fund-Series 6

Birla Sun Life Mutual Fund new issue closes on 30 May 2011

Birla Sun Life Mutual Fund has launched Birla Sun Life Capital Protection Oriented Fund-Series 6, a close-ended capital protection oriented scheme. The duration of the scheme is 761 days. The new issue closes on 30 May 2011.

The investment objective of the scheme is to provide capital appreciation linked to equity market with downside protection at the end of tenure. Fund expects to achieve down side protection by investing in debt securities with tenure comparable with the tenure of the plan, subject to the credit risk. Fund expects to achieve the market-linked appreciation (upside) by investing in premium of exchange traded options.

The minimum investment amount is Rs5,000. The benchmark index for the scheme will be CRISIL Balanced Fund Index. The fund manager will be Satyabrata Mohanty and Ajay Garg.

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Tata Motors commercial vehicles division launches ‘Tata Delight’

Tata Delight is a loyalty programme for all Tata Motors commercial vehicle customers, both existing and new

Tata Motors has launched Tata Delight, a customer loyalty programme for owners of its commercial vehicles. Tata Motors is the first company in the commercial vehicles industry to launch this unique engagement initiative.

Tata Delight is a loyalty programme for all Tata Motors commercial vehicle customers, both existing and new. It offers customers a host of distinctive facilities across all Tata Motors dealerships, sales outlets, and Tata Motors authorised service stations.

Customers can earn bonus points on purchase of a new commercial vehicle. They can also earn or redeem points on vehicle servicing or repairs, new spares, across all Tata Motors dealerships, sales outlets, and service stations. Members can call on a 24x7 toll free helpline 18002097979 for queries and on-road & highway assistance service. Other membership privileges include educational scholarships for children, a chance to win a Tata Nano every quarter through a lucky draw and invitations to special events and movies with family. A customer can avail of all these benefits for only Rs100 (without insurance) and Rs500 (including insurance). If enrolled for the programme with insurance, a vehicle driver will receive a 3-year insurance policy which offers an accidental insurance of Rs1 lakh, personal disability insurance of Rs1 lakh and an accidental hospitalisation cover of Rs25,000 per year.  

Once enrolled in the programme, the member will receive a Tata Delight Owners Card and as many Tata Delight Chassis Cards as the number of vehicles a customer owns and wants to enroll for. While the Tata Delight Owners Card can be used to earn and redeem points, Tata Delight Chassis Card will only accumulate points earned against spends on the vehicle registered in the programme.

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CPI at 106 points in April; fruits, protein-based items up

According to experts, with the passage of the time, the new index would take over Wholesale Price Index (WPI) as the main benchmark to measure inflation

New Delhi: Fruits and protein-based items became more expensive during April, though the overall Consumer Price Index (CPI) based on retail prices remained stable at 106 points, at the same level as seen in March, reports PTI.

At the all-India level, the index for fruits rose by 10% to 131 points in April vis-à-vis March.

Similarly, the indices for eggs, fish and meat went up by almost 2% in April vis-à-vis March to 110 points, while milk went up marginally to 110 points.

There was also a 3.64% rise in retail prices of pan and tobacco to 114 points, while condiments and spices were up by 1.75% at 116 points.

However, vegetable prices fell by 4% in the month under review to 95 points.

Overall, the 'food, beverages and tobacco' segment of the CPI moved up to 107 points in April from 106 in the previous month.

While the CPI, according to the new series, increased to 106 in April this year from a base of 100 in 2010, the government will wait "till the series gets stabilised" and adequate timely receipt of price data is achieved before it begins to release the retail inflation figures from next year.

As per the data released by the government today, the general indices for rural and urban consumers stood at 108 and 105 points, respectively.

In March, the general indices for rural, urban and combined consumers had stood at 107, 104 and 106 points, respectively.

Meanwhile, the February numbers have been maintained at the original estimates of 107 points for rural consumers and 104 points for urban consumers. The combined index in February was recorded at 105 points.

These consumer indices have been released for five major groups-food, beverages and tobacco; fuel and light; housing; clothing, bedding and footwear; and miscellaneous items.

While 'fuel and light' was up marginally up at 108 points in April, as against 107 in March, 'clothing, bedding and footwear' stood at 112 points on an all-India basis in the month under review, marginally up from 110 in the previous month.

The CPI for miscellaneous items was pegged at 106 points on a countrywide basis in April, up from 105 in March.

The new CPI was introduced to reflect the actual movement of prices at the micro-level and help policy-makers like the Reserve Bank of India (RBI) in better framing of decisions.

According to experts, with the passage of the time, the new index would take over Wholesale Price Index (WPI) as the main benchmark to measure inflation.

Inflation, as measured by the WPI, was measured at 8.66% in April, which was below the RBI's projection of a 9% average in the first half of the fiscal.

During the unveiling of the new index earlier this year, the government had said it would continue the practice of giving the figures in the present form without quoting the inflation rate for one year.

This would be "till the series gets stabilised" and adequate timely receipt of price data is achieved.

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