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Drumbeat: Ad Buzzaar
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Friday, May 22, 1998
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ICICI Premier, ICICI Power corpus up 26% in three months
The net corpus of existing mutual fund schemes, ICICI Premier and ICICI Power, have improved by about 26% in the last three months. This has forced a major restructuring of their portfolios. The restructuring involved reduction in the number of scrips in the case of ICICI Premier from 65 to 30 and in the case of ICICI Power from 60 to 26.
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DoT permits linking of WAN with NSE's trading network
DoT has allowed members of the National Stock Exchange (NSE) to connect their wide area networks with the exchange's trading network. This would enable members to connect terminals located out of their main office to their main trading workstations. In a related move, the NSE has decided to upgrade the operating system software being used by brokers presently.
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RBI to hold 9-year paper auction on May 27
The Reserve Bank of India (RBI) on Thursday announced the auction of a Rs 4,000-crore, nine-year government of India paper -- the second government issue in May. The RBI will conduct the auction on May 27. Earlier, the government had raised a 10-year paper at 12%. Dealers have pegged the coupon on the new paper at 11.95-12%.
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Tata MF's Twin Option Fund garners Rs 5.1 crore
The Twin Option Fund from Tata Mutual Fund has fallen dismally short of its mobilisation target. The scheme, which closed earlier this month, has been able to garner only a meagre Rs 5.10 crore as against an internal target of around Rs 100 crore. The fund is an open-ended growth fund which offers two portfolio choices, giving investors an opportunity to invest in equity and debt.
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