AMC bonds generate high interest, but common man gets only leftovers
The public share of the cake in the Ahmedabad Municipal Corporation's Rs 100-crore bond issue is very small. The corporation has already reserved a sizeable (Rs 75 crore) portion of the issue on firm allottment basis to financial institutions/banks. The coupon of 14% seems to be attractive considering the accross-the-board cut in interest rates by banks.
Shortages trigger fresh interest in tea scrips
tea prices will keep going up both in the domestic as well as foreign market. All this augurs well with the tea producers with demand-supply situation rapidly changing in favour of the producers. ``Among all, Tata Tea is the best bet,'' says K Ramachandran, chief of research at Birla Marlin Securities. Tata Tea is substantially growing its tea requirement in the company's tea estates. Thus the company does not have to buy at highe
Poor market conditions hit JM Liquid (G)
JM Basic, the petrochemical sector specific fund, mobilised an initial corpus of Rs 426 crore earlier this year with almost negligible marketing. In sharp contrast, the six equity funds floated by other AMCs (including UTI) could mobilise only Rs 68 crore.
Reliance Income unlikely to witness heavy inflow in a saturated market
Reliance Capital Mutual fund has launched its open-end income scheme, Reliance Income Fund. Reliance Income Fund is the first pure debt scheme and the second open-end scheme to be launched by Reliance. The earlier two schemes were simultaneously launched in September, 1995.
Discounting new risks, Kotak Securities revises Sensex target
Kotak Securities has lowered its end-1998 Sensex target to 4300 from earlier published 4500. It believes that most of 1997's positives carry into 1998. A 4,300 target stems from mild optimism on profits and politics, but the upside may be limited until hard evidence of growth and good governance removes investor disillusion.
Direct demat process needs streamlining
Applicants to the ICICI Bank public issue who had given up on receiving their shares in demat form, received a pleasant surprise when the registrar to the issue approached them individually and agreed to demat the physical shares for them free of cost.
