HDFC Mutual Fund introduces 370 days fixed maturity plan

HDFC Mutual Fund new issue closes on 6th July

HDFC Mutual Fund has launched HDFC FMP 370D July 2011 (1), a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenure of the scheme is 370 days.

The new issue closes on 6th July. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Miten Lathia is the fund manager.

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TVS Motor sales up 14% to 1,82,456 units in June

The company's total motorcycle sales grew by 5% to 69,859 units while scooter sales grew by 21% to 44,281 units in June 2011

New Delhi: Chennai-based TVS Motor Company today reported a 14% increase in total sales to 1,82,456 units in June 2011, as against 1,59,688 units in the same month last year, reports PTI.

Total two-wheeler sales grew by 14% to 1,78,633 units last month compared to 1,56,685 units in June 2010, the company said in a statement.

During the month, total motorcycle sales grew by 5% to 69,859 units from 66,452 units in the same month last year, it said.

Scooter sales grew by 21% to 44,281 units in June 2011, from 36,742 units in June, 2010, it added.

Domestic two-wheeler sales of the company grew by 11%, with sales of 155,296 units in June 2011, as against 1,39,905 units in June 2010, it said.

Three-wheeler sales stood at 3,822 units against 3,003 units in the comparable month of the previous year, a growth of 27%.

Exports grew by 48%, with total sales of 26,359 units in June 2011, as against 17,782 units in the same month of the previous year, it said.

The company exported 23,337 two-wheeler units during the month, as against 16,780 units in the year-ago period, up 39%.

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CBI registers FIR against former DG (hydrocarbons) VK Sibal

CBI sources said there were several alleged discrepancies by Mr Sibal in carrying out works and favouring leading private players and foreign consultants involved in oil and gas explorations

New Delhi: The Central Bureau of Investigation (CBI) today registered a first information report (FIR) against former director general (DG) of hydrocarbons VK Sibal for allegedly favouring a private firm in carrying out speculative seismic exploration and searched his premises in Noida, reports PTI.

Agency sources said there were several alleged discrepancies in carrying out works and favouring leading private players and foreign consultants involved in oil and gas explorations.

There is clear evidence against Mr Sibal, they alleged.

The DGH, under the ministry of petroleum and natural gas, is mandated to carry out a geophysical survey with any company to upgrade the available data on potential of hydrocarbons in the country, with the purpose of attracting domestic and international firms to explore and develop oil and gas fields.

Mr Sibal was director general of hydrocarbons between 2004 and 2009.

The Central Vigilance Commission had found alleged discrepancies in different works carried out by Mr Sibal and recommended a CBI probe.

Shares of Reliance Industries were down 3.59% to Rs865.35 a piece in post-noon trade on the Bombay Stock Exchange today.

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