Reliance Mutual Fund floats Fixed Horizon Fund-XIX-Series 19

Reliance Mutual Fund new issue closes on 9th May

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XIX-Series 19, a close-ended scheme.

The investment objective of the scheme is to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. The tenor of the scheme is 732 days.

The new issue closes on 9th May. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Amit Tripathi is the fund manager.

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Maruti Q4 net profit rises marginally to Rs659.86 crore

For the entire fiscal 2010-11, Maruti Suzuki's consolidated net profit declined by 9.23% to Rs2,382.37 crore from Rs2,624.64 crore in FY09-10. The company stated that its FY10-11 profit was impacted due to adverse currency movement

New Delhi: Maruti Suzuki India (MSI0, the country's largest carmaker, today reported a marginal rise in its net profit for the quarter ended 31 March 2011, at Rs 659.86 crore, from Rs656.55 crore in the corresponding quarter of 2009-10 fiscal, reports PTI.

Total income from operations during the fourth quarter of the last fiscal increased by 18.93% to Rs10,092.18 crore from Rs8,485.83 crore in the same period previous fiscal, the company said in a statement.

During the quarter, the company's total automobile sales stood at 3,43,340 units compared to 2,87,422 units in the year-ago period, up 19.46%.

For the entire fiscal 2010-11, MSI's consolidated net profit declined by 9.23% to Rs2,382.37 crore from Rs2,624.64 crore in FY09-10.

The consolidated total income from operations during last fiscal went up by 24.75% to Rs37,578.48 crore from Rs30,122.51 crore in 2009-10.

Raw material cost was up by 24% at Rs7,598 crore from Rs6,128 crore, year-on-year.

Maruti stated that its FY10-11 profit was impacted due to adverse currency movement.

MSI sold a total of 12,71,005 vehicles in FY10-11 as against 10,18,365 units in the previous fiscal, up 24.81%.

The company's board also recommended a dividend of 150%, which is Rs7.50 per share of the face value of Rs5 for 2010-11.

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Prime Focus appoints Ramki Sankaranarayanan as CEO

Ramki has been with the Prime Focus group for over four years, and as a founder of Prime Focus Technologies, has led that company from inception to its current position as a market leader

Prime Focus has announced that Ramki Sankaranarayanan, president and CEO of Prime Focus Technologies, has been appointed CEO of Prime Focus India. The appointment, which is effective immediately, will see Ramki become responsible for all of the operations and business lines of Prime Focus in India, in addition to maintaining his leadership of Prime Focus Technologies.

Ramki has been with the Prime Focus group for over four years, and as a founder of Prime Focus Technologies, has led that company from inception to its current position as a market leader in providing blue-chip, global media companies with cloud-based multi-platform content operations solutions. Ramki joined Prime Focus with over 14 years of rich experience across technical, strategic and operational roles at companies such as Subex and Tata Elxsi.

Ramki said: "Prime Focus is enjoying dynamic growth-in India and internationally- but we must not rest on our laurels. Prime Focus has always been known as an innovator, and a leader in its sector, and my role is to ensure that we continue in this vein with new service offerings, new technological developments, the best creative offering in the marketplace and even better levels of customer service. There are many opportunities for Prime Focus India-both domestically and internationally-and I look forward to leveraging these opportunities to take the company to even greater heights."

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