MOSt 10 Year Gilt Fund is an open ended fund structure with two plans: dividend & growth
Motilal Oswal Asset Management Company Ltd has launched Motilal Oswal MOSt 10 Year Gilt Fund, an open ended gilt scheme. MOSt 10 Year Gilt Fund is India’s first fund to open access to the 10 year G-sec for retail investors by investing 90%-100% of the corpus in 10 year G-secs only.
MOSt 10 Year Gilt Fund proposes to invest in the 10 year benchmark G-sec (currently 8.79% 2021 G-sec) with no discretion with fund manager on maturity, and (2) Emulate the risk and returns on the 10 year benchmark G-sec.
MOSt 10 Year Gilt Fund will primarily invest in 10 year benchmark government security: 90%-100%; other government securities (7 to 12 years), T-bills, cash management bills, CBLO and repo: 0-10%. The fund would also invest maximum amount in the 10 year benchmark G-sec as it is highly liquid paper in the entire G-sec market. It also helps to align the performance of the fund with the 10 year benchmark G-sec.
MOSt 10 Year Gilt Fund, is an open ended fund structure with two plans: dividend & growth. The new fund offer (NFO) will be open for subscription from 21st November 2011 to 5th December 2011. The minimum subscription amount is Rs10,000 and additional investment of Rs1,000. The total expense ratio is 0.99% (proposed). The fund manager of the scheme is Abhiroop Mukherjee.
Under this contract, Hexaware is expected to ramp the team up to 800 personnel operating under dedicated global delivery centers
Hexaware Technologies, a leading global provider of IT, BPO and consulting services, has announced today that the company has signed a contract estimated at $250 million, with an existing client headquartered in United Kingdom for an additional five years starting 1 January 2012.
This engagement has been structured to enable Hexaware to offer its services to newer geographies spanning across America, Europe and Asia Pacific. The additional revenues from this engagement will begin to accrue from the first quarter of 2012. This contract is expected to improve offshore ratio over the term of the contract.
Under this contract, Hexaware is expected to ramp the team up to 800 personnel operating under dedicated global delivery centers. It is envisaged that Hexaware will offer information technology (IT) services from its centers in Chennai, Mumbai, Pune and Mexico.
In the late afternoon, Hexaware was trading at around Rs85.40 per share on the Bombay Stock Exchange, 1.27% down from the previous close.
For the half year ended September 30, 2011, Era Infra’s revenue from contracts increased to 3.32% to Rs1,584.78 crore
For the quarter ended September 30, 2011, Era Infra Engineering’s net profit stood at Rs51.34 crore against Rs61.79 crore in the same period of last year.
During the same period, the company recorded revenues from contract of Rs772.03 crore, an increase of 0.42% from Rs768.82 crore. EBIDTA stood at Rs206.91 crore, an increase of 12.12% compared to Rs184.54 in Q2FY11.
For the half year ended September 30, 2011, the company’s revenue from contracts was at Rs1,584.78 crore, up 3.32%, from Rs1,533.86 during the corresponding period last year. The EBIDTA for the half year stood at Rs393.99 crore, registering an increase of 8.64% from Rs362.65 crore. The company reported a net profit of Rs102.77 crore against Rs120.85 crore in the same period of last year.
In the late afternoon, Era Infra was trading at around Rs150.35 per share on the Bombay Stock Exchange, 0.86% down from the previous close.