Maya Iron Ores enters derivative commodity exchange

Maya Iron Ores plans to engage in the first month itself, 90 sub-brokers from across regions but largely from Maharashtra, Gujarat and South India

Maya Iron Ores Pvt Ltd, one of the pioneers in providing integrated solution for physical deliveries of iron ore, have launched its futures commodity trading division, having received the membership of Indian Commodity Exchange (ICEX).

Maya Iron Ores plans to engage in the first month itself, 90 sub-brokers from across regions but largely from Maharashtra, Gujarat and South India.

“A physical trader that offers an effective hedge mechanism, we are better placed as advisors to corporate and retail investors in a highly volatile market,” said Praveen Kumar V, chairman, Maya Iron Ores. “The iron ore future contract which was launched in the India exchanges (ICEX and MCX) is an important tool for risk management against physical deliveries. ‘Maya’ has identified great potential in this segment and has launched its futures commodity trading divisions.”

One of the main objectives of this division would be to educate both the corporate and retail participants in detail about the dynamics of the iron ore market globally. The division will also tailor-make effective hedge mechanisms for the physical traders.

“We intend to further expand our sub-broker network to around 225 in the short term period for our derivative division across India,” said Mitesh Rasaikar, chief executive officer (marketing & finance), Maya Iron Ores. “By the end of 2010, we intend to have a significant market share for the multiple commodities which traded in the Indian exchanges.”

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SBI Mutual Fund introduces SBI Debt Fund Series 90 Days-45

SBI Mutual Fund new issue closes on 27th June

SBI Mutual Fund has launched SBI Debt Fund Series 90 Days-45, a close-ended income scheme.

The investment objective of the scheme to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is 90 days.

The new issue closes on 27th June. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.

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Religare Mutual Fund unveils 371 days fixed maturity plan

Religare Mutual Fund new issue closes on 27th June

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The investment objective of the scheme to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme. The tenure of the scheme is 371 days.

The new issue closes on 27th June. The minimum investment amount is Rs5,000.

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COMMENTS

akghosh

5 years ago

PL LET ME KNOW ABOUT UR FMP VERY URGENT PL

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