DSP BlackRock MF unveils 3 months fixed maturity plan

DSP BlackRock MF new issue closes on 16th August

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-Series 5-3M, a close-ended income scheme.

The investment objective of the scheme is to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The tenure of the scheme is three months.

The new issue closes on 16th August. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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IIP growth of 8.8% in June ‘encouraging’: FM

Commenting on the industrial growth figures for June, finance minister Pranab Mukherjee said: "It is encouraging. If this trend continues, it will give a boost to growth"

New Delhi: Terming the 8.8% industrial growth recorded in June as 'encouraging', finance minister Pranab Mukherjee on Friday said if the trend continues, it will boost economic growth, reports PTI.

"It is encouraging. If this trend continues, it will give a boost to growth," Mr Mukherjee told reporters here.

He was commenting on the industrial growth figures for June, which showed a moderate recovery to 8.8% on the back of the strong performance of the manufacturing sector and better output of capital goods.

Growth in factory output, as measured in terms of the Index of Industrial Production (IIP), stood at 7.4% in June last year, as per government data released here.

Output of the manufacturing sector, which constitutes over 75% of the index, grew by 10% in June 2011, compared to 7.9% in the same month last year.

Offtake of capital goods jumped by 37.7% in June 2011 against a moderate increase of 3.7% during the corresponding month of the last fiscal.

Similarly, electricity production also improved, witnessing a growth of 7.9% during the month under review, as compared to a growth of 3.5% in June 2010.

Commenting on the latest numbers, Planning Commission deputy chairman Montek Singh Ahluwalia said: "I am glad that the latest figures show improvement. I think it is broadly along the lines that we have been talking about for the current year."


Ahluwalia said economic growth this fiscal would be in the range of 8-8.3 per cent.

"I remain of the view that GDP growth in the current year (2011-12) could vary anywhere between 8 and 8.3 per cent, which is roughly consistent with the spot forecast of the Prime Minister's Economic Advisory Council," Ahluwalia said.

Meanwhile, the industrial growth number for May this year has been revised upward to 5.9 per cent from the provisional estimate of 5.6 per cent.

During the first quarter (April-June) this fiscal, IIP growth stood at 6.8 per cent, as against 9.6 per cent in the corresponding three-month period last year.

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Industrial growth revives to 8.8% in June

During the first quarter of the current fiscal, IIP growth stood at 6.8% against 9.6% in the corresponding three-month period last year

New Delhi: Industrial growth in the country revived moderately to 8.8% in June this year on the back of a smart recovery in the manufacturing sector and better offtake of capital goods, reports PTI.

Growth in factory output, as measured in terms of the Index of Industrial Production (IIP), stood at 7.4% in June last year, as per government data released here.

During the first quarter (April-June) of the current fiscal, IIP growth stood at 6.8%, as against 9.6% in the corresponding three-month period last year.

Output of the manufacturing sector, which constitutes over 75% of the index, grew by 10% in June 2011 compared to 7.9% in the same month last year.

Offtake of capital goods jumped by 37.7% in June in comparison to a growth of merely 3.7% in same month last year.

Similarly, electricity production also improved, witnessing a growth of 7.9% during the month under review, as compared to a growth of 3.5% in June 2010.

However, growth in mining sector output declined to a mere 0.6% in June 2011, from 6.9% in the same month last year.

Non-durable consumer goods (FMCG) production also saw a slowdown in growth to 2.1% in June compared to 7.5% expansion a year ago while growth in consumer durables output also fell sharply to just 1% from 21.2% a year ago.
Meanwhile, the industrial growth number for May this year has been revised upward to 5.9% from the provisional estimate of 5.6%.

As per the latest data, industrial growth during the April-June quarter stood at 6.8% compared to a growth of 9.6% in the first quarter of last fiscal.

The slowdown could be attributed to a weaker performance in April and May 2011 when the IIP growth stood at 5.7% and 5.9%, respectively.

Manufacturing sector grew by 7.5% in April-June this year as against a growth of 10.3% in the same period of 2010.

Growth in mining also fell to a mere 1% during the first quarter of the current fiscal from a 8% jump registered in the year-ago period.

Offtake of capital goods grew by 16.9% in April-June this year as against a growth of 17.2% in the year-ago period.

Consumer non-durables witnessed a growth of 4.9% during the period under review as compared to 5.3% in April-June 2010, while consumer durables grew by only 3.3% as against 19.7%.

However, electricity output increased by 8.2% during the first quarter of this fiscal against a growth of 5.4% in the same period of last year.

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