Godrej Properties to enter NCR market

Godrej Properties Ltd, the real estate development arm of the Godrej Group, said it will set up a residential project in the NCR (National Capital Region) in North India. The company has entered an agreement to develop about 1.1 million sq ft on nine acres of land in Sector 80 of Gurgaon.

The Mumbai-based company is developing the project in joint venture with Frontier Home Developers Pvt Ltd. The project will be a residential development with apartments and penthouses of varying configurations.

On Wednesday, Godrej Properties shares closed 3.1% up at Rs638 on the Bombay Stock Exchange, while the Sensex ended at 0.8% down at 17,471 points.

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ITDC appoints Anand Kumar as director

India Tourism Development Corp Ltd (ITDC) said it appointed Anand Kumar as the director of the company.

On Wednesday, ITDC shares closed 4.97% up at Rs104 on the Bombay Stock Exchange, while the Sensex ended at 0.81% down at 17,471 points.

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SBI Mutual Fund appoints Dharmendra Grover as fund manager

SBI Funds Management Pvt Ltd the investment managers of SBI Mutual Fund said it appointed Dharmendra Grover as fund manager.

Mr Grover will manage SBI MF's Magnum MultiCap Fund, SBI Tax advantage Fund - Series I, Magnum Investment NRI-FAP and Magnum Balanced Fund.

Earlier, he worked with Llyods securities, Credit Suisse First Boston, Principal MF, Tata Motors and Artemis Advisors. He was last working with Tata Securities Ltd setting up PMS.

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