Birla Sun Life Mutual Fund’s new issue closes on 23rd February
Birla Sun Life Mutual Fund has launched 'Birla Sun Life Fixed Term Plan-Series CQ', a close-ended income scheme.
The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The new issue opens on 14th February and closes on 23rd February. The minimum investment amount is Rs5,000.
On a stand-alone basis, Reliance Power's net profit for the reporting quarter was Rs34.89 crore, down by 43% from the Rs61.13 crore in the corresponding quarter of the preceding year
Reliance Power, part of the Anil Dhirubhai Ambani Group (AGAG), today reported a 7% rise in its consolidated net profit to Rs143.61 crore for the quarter ended 31 December 2010 from the Rs133.65 crore in the previous corresponding quarter. Total revenue, on a consolidated basis, surged by 98% to Rs355.13 crore from Rs179.16 core in the same period a year ago.
On a stand-alone basis, the company's net profit for the reporting quarter was Rs34.89 crore, down by 43% from the Rs61.13 crore in the corresponding quarter of the preceding year. Total revenue rose to Rs101.11 crore from Rs89 crore in the year-ago quarter, reflecting an increase of 14%.
The company's shares were trading at Rs117.75 apiece in noon trade, up 2.53% from its previous close.
Finance minister Pranab Mukherjee has expressed hope that the overall inflation will come down to 7% by March end
New Delhi: The Reserve Bank of India (RBI) may take further monetary tightening measures to tame inflation which stood at 8.23% in January, reports PTI quoting the Prime Minister's Economic Advisory Council.
"RBI will have to take a view looking at level of inflation. It is still at an uncomfortably high level. Some action, continued action, by the RBI (to tighten monetary policy) may be required," PMEAC chairman C Rangarajan told PTI.
His remarks came even as inflation, though down marginally from December, continued to be above 8%, a level where it has stood at since January 2010.
The RBI has already hiked its short-term lending and borrowing rates by 25 basis points in its third quarterly review last month to tame inflationary pressure. The apex bank has also termed inflation control as its topmost priority.
Asked about the fall in inflation numbers in January, Mr Rangarajan said: "In some ways, it was expected. We can see inflation falling to 7% by March."
At last month's review, the RBI had revised its inflation estimate to 7% by March-end, from the earlier 5.5%.
Inflation declined marginally to 8.23% in January from 8.43% in the previous month, as prices of certain commodities like wheat, pulses and sugar eased, although essential items like onions and other vegetables continued to remain firm.
Besides, food items, many experts have also voiced concern over global crude prices which had crossed a 28-month high at $102 per barrel on account of political instability in the Middle-East, especially Egypt.
Meanwhile, finance minister Pranab Mukherjee has expressed hope that the overall inflation will come down to 7% by March end.
"I am hoping that it (inflation) would be roughly around 7% (by March end). I hope so. But I cannot firmly commit it," Mr Mukherjee told reporters here.
The overall inflation has shown a marginal decline to 8.23% in January, from 8.43% in the previous month.
The finance minister, however, said the inflation numbers in the coming months would depend on global developments and the way the commodity prices move in the global markets.
Mr Mukherjee attributed the decline in January inflation to monthly variations and said the fall was on expected lines.
"Don't go by the weekly fluctuation or monthly fluctuations. This was expected. It is nothing unusual," he added.