Union KBC MF launches 92 days fixed maturity plan

Union KBC MF new fund offer closes 19th October

Union KBC Mutual Fund has launched Union KBC Fixed Maturity Plan-92 Days-Series 1 a close-ended income scheme.

The investment objective of the scheme is to seek to generate income/capital appreciation by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is 92 days.

The new issue closes on 19 October 2011. The minimum investment amount is Rs10,000.

CRISIL Liquid Fund Index is the benchmark index. Devesh Thacker is the fund manager.

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SCI accepts delivery of mv SCI Ratna

With addition of mv SCI Panna, SCI’s fleet strength has increased to 82 vessels and has touched a new high of 5.827 million DWT

Shipping Corporation of India Ltd (SCI) had signed contracts for acquisition of four units newbuilding 80 T BP anchor handling, towing & supply vessels with Bharati Shipyard Ltd, India. The first vessel, “mv SCI Panna” was delivered to SCI on 23 August 2011 and the remaining two vessels are scheduled for delivery by the end of 2011.

The vessel has a gross tonnage of 2,039 tonnes and deadweight of 1,983 tonnes. The vessel has been classed with IRS, equipped with DP I system and has been built to comply with the latest and most stringent international regulations. In the offshore sector, SCI presently has a fleet of 11 vessels of which 10 vessels were acquired during the eighties. These vessels have been dedicatedly serving the oil exploration and production sector in India for the last 25 years. The four AHTSVs ordered with Bharati Shipyard are 1st phase replacement of SCI’s 10 AHTSVs & comply with superior specifications like dynamic positioning, reverse osmosis plant and UKOOA compliance as required by Indian E&P operators, etc. As a National carrier, SCI has been aiming to increase its presence in India’s offshore sector. To promote Indian Shipbuilding industry, SCI has ordered four AHTSVs of 120 BP capacity and two PSVs with Cochin Shipyard on nomination basis. The service of these vessels would be crucial to the E&P operators in the Indian Offshore sector. Apart from serving the nation’s interest, the vessel would also strengthen SCI’s fleet base as well as start a new era in its offshore segment.

SCI today has a diversified fleet of 82 vessels which includes 12 offshore supply vessels. With addition of this vessel, SCI’s fleet strength has increased to 82 vessels and has touched a new high of 5.827 million DWT. Acquisition of the vessel is in line with SCI’s strategy of maintaining a modern and young fleet of vessels. The Company has 27 vessels on order at present and 9 of these are scheduled for delivery by the end of 2011.

In the early afternoon, SCI was trading at around Rs70.85 per share on the Bombay Stock Exchange 0.78% up from the previous close.

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CRISIL’s Q3 consolidated total income rises 38% to Rs220 crore

CRISIL has declared a third interim dividend of Rs2.75 per share on face value of Re1 per equity share

CRISIL has come out with its report on unaudited financial results for the third quarter ended 30 September 2011. CRISIL’s consolidated total income for the third quarter ended 30 September 2011, stood at Rs220.05 crore against Rs159.11 crore in the corresponding quarter of the previous year, an increase of 38.3%.

The net profit was Rs60.18 crore, against Rs75.44 crore in the corresponding period of the previous year. For the nine months ended 30 September 2011 the consolidated total income from operations was Rs602.60 crore, an increase of 32.8% over the corresponding period of the previous year. The net profit for the nine months ended 30 September 2011 was Rs150.61 crore.

The Board of Directors has declared a third interim dividend of Rs2.75 per share on face value of Re1 per equity share in addition to a first and second interim dividend of Rs27.5 per share each declared in the first and second quarter earlier in the year on face value of Rs10 per equity share.

In the early afternoon, CRISIL was trading at around Rs859.85 per share on the Bombay Stock Exchange 2.45% up from the previous close.

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