UTI on Monday launched the Small Investor Fund, designed for the benefit of people with a small investible surplus. The fund will provide an opportunity to small investors to consolidate and expand their savings. An interval fund, it is aimed at generating returns through investments in debt instruments. The initial offer is open till July 8.

Rain Calcining attracts buyers:

Buoyed by the current prospects in the aluminium industry and also Rain Calcining Ltd's revised projections for fiscal 1999, the scrip is witnessing hectic activity on the BSE. Between May 14 and 25, the RCL scrip gained 56 per cent from Rs 15 to close at Rs 23.40 on Monday. The scrip registered a gain of 17 per cent on Monday over its previous close.

Margins on HCL Infosystems, Videocon:

The Delhi Stock Exchange on Monday announced that special margins would be fixed on all purchase positions in HCL Infosystems Ltd, Videocon International and KLG Systel. Italso stated that bad delivery transactions of H-Lon Hosiery Ltd and Yogi Pharmacy would be closed at 20 per cent above the last traded price.

4 plantation firms obtain rating:

Following Sebi's directive to collective investment schemes to compulsorily obtain a rating from credit-rating agencies before mobilising money from the public, four schemes have done so for their schemes. They are Swaranbhoomi Forests (grade V), Rose Valley Resorts & Plantations (grade V), Timber World Resorts & Plantations (grade V) and Hariyali Plantations (CS 5). A grade V rating indicates high uncertainty over the possibility of the scheme providing assured returns in the form of produce and/or cash.

CSE closed on Monday:

The Calcutta Stock Exchange was closed on Monday following the 12-hour general strike sponsored by the Trinamool Congress-BJP combine.

JM Financial best domestic investment bank:

JM Financial and Investment Consultancy Services Ltd has been adjudged the best domestic investmentbank in India by Asiamoney for the year 1997. Asiamoney has also awarded the best domestic deal of the year to JM Financial for its innovative structuring of index bonds for ICICI. JM Financial has won both the awards for two years in succession.

Live scrip prices on the Net:

Asian CERC Information Services(I) Ltd is planning to offer live quotes of scrips listed on the BSE and NSE between May 28 and June 5 to coincide with the presentation of the budget. Called "Market Pulse -- Budget Special", Internet users can download the quotes from http://www.asiancerc.com.

Spentex Industries board meet:

The board of directors of Spentex Industries Ltd will meet on June 5 to take on record the audited financial results of the company for the year ended March 31, 1998.

NIIT leads spurt on MSE:

Riding on the crest of an infotech wave, NIIT single handedly led a spurt in values on the Madras Stock Exchange on Monday, contributing to the 78.97-point rise in the index which closed at4,305.41 points. NIIT flared up to Rs 1,615 from Rs 1,561.35. Reliance recovered by Rs 2.20 to Rs 183.20. Orchid Chemicals moved up by Rs 3.65 to Rs 124.65.

OTCEI shares end slightly better:

Equity prices showed a moderate rise on good investor support at the OTCEI on Monday. The OTCEI Composite Index opened at 114.58 and closed at 114.58, a marginal rise of 0.01 point over the previous close of 114.57.

Skindia Index loses 1.08%:

The Skindia GDR Index dropped by 1.08 per cent from 873.68 to 864.25 on May 22. The Skindia GDR Index p/e ratio was 19.87 on May 22 compared with 20.05 on May 21. The top losers were VSNL, GE Shipping and Hindalco which moved down to $11.70 ($12.20), $6.05 ($6.25) and $16.50 ($17.00) respectively.

KL shares end lower in thin trading:

Shares ended lower as selling picked up pace in the afternoon of a largely uneventful day, dealers said. Selling in heavily capitalised issues pressured the key index after a narrow trading range in the morning. At theclose, the Kuala Lumpur Stock Exchange's key Composite Index was down 6.68 points to 570.55.

Jakarta stocks hit by profit-taking:

Jakarta's Composite Share Index closed lower on Monday as investors sold blue chips, especially those which gained sharply last week, brokers said. Brokers said the market was active with a turnover estimated at 312 billion rupiah compared with a daily turnover of less than 100 billion rupiah last week. The Composite Index closed 5.59 points down at 439.56.

HK stocks end slightly down:

Hong Kong stocks closed a touch weaker on Monday with liquidity drying up to a 1998 low as investors stayed on the sidelines to wait out a market holiday in the US and the UK, brokers said. The Hang Seng Index dipped 11.45 points to 9,544.53. Rupee touches new low: The rupee weakened against the dollar on Monday to an all-time low of 41.18/20. It opened at 40.75/80, weaker than its previous close of 40.65/67, and fell to 40.80/95 immediately. SBI sold dollars, apparently onbehalf of RBI, to prop up the rupee. But once the SBI left, the rupee breached the 41 mark to trade at 41.18.

Call rates end at 6.75%:

The overnight call money rates opened at 6.50-7 per cent on Monday and stayed firm owing to good demand for funds from corporates and banks. The rates hovered at the opening levels throughout the day without any significant movement. They closed at 6.25-6.75 per cent.

Silver, gold prices improve:

Precious metals strengthened marginally on Monday. Silver of .999 fineness and raw silver edged up by Rs 10 and Rs 30 to end at Rs 7,750 and Rs 7,625 per kg, respectively on good buying interest. Standard mint and 22-carat gold firmed up by Rs 20 and Rs 15 to close at Rs 4,180 and Rs 3,865 per 10 gm.

Cotton ends mixed:

Cotton prices in the Punjab region rose amid low supplies and fresh mill demand on Monday, dealers said. In spot deals, Bengal-deshi rose Rs 10/25 to Rs 1,575/1,610 per maund (37.32 kg). A clarification: BSE has clarified that thename of SVC Superchem Ltd was erroneously included in the list of companies on whom it had served winding-up notices for non-payment of listing fees for the year 1997-98.