Religare Mutual Fund launches Religare Fixed Maturity Plan - Series X - Plan B (370 Days)

Religare Fixed Maturity Plan - Series X - Plan B (370 Days) closes 1st November

Religare Mutual Fund has launched Religare Fixed Maturity Plan - Series X - Plan B (370 Days), a close-ended income scheme.

The investment objective of the scheme is 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 new fund offer closes on 1 November 2011. The minimum investment amount is Rs5000.

CRISIL Short-Term Bond Fund Index is the benchmark index. Nitish Sikand is the fund manager.

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HDFC Mutual Fund launches HDFC FMP 36M October 2011 (1)

HDFC Fixed Maturity Plan new fund offer closes 9th November

HDFC Mutual Fund has launched HDFC FMP 36M October 2011 (1), a close-ended income scheme.

The investment objective of the scheme 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 36 months.

The new fund offer closes on 9 November 2011. The minimum investment amount is Rs5000.

Crisil Short Term Bond Fund Index is the benchmark index. Bharat Pareek is the fund manager.

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NIIT to invest Rs 175 crore in Noida campus

IT firm NIIT Technologies will invest up to Rs175 crore for the second phase of expansion of its campus in Greater Noida

IT firm NIIT Technologies will invest up to Rs175 crore for the second phase of expansion of its campus in Greater Noida. "The Phase-II expansion will begin in January next year and will have an investment of Rs165-175 crore. It will take about 6-8 months to get completed and would create a capacity of 4,000 people," a NIIT Technologies spokesperson said. At present, the campus has 3,000 employees and caters to mostly new business.

The company plans to complete the construction at the campus in three phases. When completed, it would have a capacity of close to 11,000 employees. The company has spent around Rs135 crore in the first phase of expansion.

NIIT Technologies focuses on industry verticals like banking and financial services, insurance, healthcare, travel, transportation and logistics, and retail and distribution. It has footprint across North America, Europe, Asia and Australia.

The company has four facilities in the Delhi-NCR region. Asked how the company would fund the expansion, the spokesperson said it would be done through internal accruals. "We have a very strong order book of $200 million of fresh order intake and a total of $232 million of executable order book over the next 12 months. The expansion is in line with the momentum we see in business," the spokesperson said.

In the late afternoon, NIIT was trading at around Rs229.95 per share on the Bombay Stock Exchange, 0.02% down from the previous close.

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